FY2023 EPS Estimates for Tricon Residential Inc. (TSE:TCN) Cut by Raymond James

Tricon Residential Inc. (TSE:TCN – Get Rating) – Equities research analysts at Raymond James lowered their FY2023 earnings estimates for shares of Tricon Residential in a report released on Tuesday, May 23rd. Raymond James analyst B. Sturges now anticipates that the company will post earnings per share of $0.76 for the year, down from their prior estimate of $0.78. The consensus estimate for Tricon Residential’s current full-year earnings is $0.77 per share. Raymond James also issued estimates for Tricon Residential’s Q2 2024 earnings at $0.23 EPS, Q3 2024 earnings at $0.24 EPS, Q4 2024 earnings at $0.23 EPS and FY2024 earnings at $0.88 EPS.

Several other research firms also recently commented on TCN. BMO Capital Markets lifted their target price on shares of Tricon Residential from C$13.00 to C$13.50 in a research report on Thursday, May 11th. Stifel Nicolaus cut their target price on shares of Tricon Residential from C$6.50 to C$5.75 in a research report on Friday, February 24th. Finally, National Bankshares cut their target price on shares of Tricon Residential from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a research report on Monday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$12.79.

Tricon Residential Stock Down 1.4 %

TSE:TCN opened at C$10.58 on Wednesday. The firm’s 50 day simple moving average is C$10.65 and its 200 day simple moving average is C$11.02. The company has a debt-to-equity ratio of 158.51, a current ratio of 0.27 and a quick ratio of 0.32. Tricon Residential has a one year low of C$9.83 and a one year high of C$15.95. The company has a market cap of C$2.88 billion, a PE ratio of 3.99 and a beta of 1.33.

Tricon Residential (TSE:TCN – Get Rating) last posted its earnings results on Wednesday, March 1st. The company reported C$0.15 EPS for the quarter, missing the consensus estimate of C$0.36 by C($0.21). The company had revenue of C$245.60 million for the quarter.

Tricon Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Friday, June 30th will be paid a $0.079 dividend. This is a positive change from Tricon Residential’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, June 29th. Tricon Residential’s dividend payout ratio is currently 11.70%.

About Tricon Residential

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Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform.