True North Commercial REIT (TSE:TNT.UN) Cut to Hold at Canaccord Genuity Group

True North Commercial REIT (TSE:TNT.UN) was downgraded by Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Monday, BayStreet reports. They currently have a C$7.50 price target on the stock. Canaccord Genuity Group‘s price target suggests a potential downside of 0.66% from the stock’s current price.

True North Commercial REIT Price Performance

Shares of TNT.UN traded down C$0.06 during trading hours on Monday, reaching C$7.55. 18,650 shares of the company traded hands, compared to its average volume of 17,567. The stock has a market capitalization of C$106.21 million, a PE ratio of -4.48 and a beta of 0.83. The stock has a fifty day simple moving average of C$8.09 and a 200 day simple moving average of C$8.33. True North Commercial REIT has a fifty-two week low of C$7.39 and a fifty-two week high of C$9.41. The company has a quick ratio of 0.06, a current ratio of 0.14 and a debt-to-equity ratio of 175.73.

True North Commercial REIT (TSE:TNT.UN) last announced its earnings results on Thursday, August 13th. The company reported C($0.23) earnings per share for the quarter. True North Commercial REIT had a negative net margin of 38.96% and a negative return on equity of 10.66%. The firm had revenue of C$27.85 million during the quarter.

About True North Commercial REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.