Timbercreek Financial (TSE:TF) Stock Crosses Below 50-Day Moving Average – Here’s Why

Timbercreek Financial Corp. (TSE:TF)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$6.58 and traded as low as C$6.48. Timbercreek Financial shares last traded at C$6.60, with a volume of 132,886 shares.

Wall Street Analysts Forecast Growth

Separately, TD Securities reduced their price target on Timbercreek Financial from C$8.00 to C$7.00 and set a “hold” rating for the company in a research report on Monday, March 3rd.

Timbercreek Financial Stock Up 1.2 %

The company’s fifty day simple moving average is C$6.58 and its 200-day simple moving average is C$7.17. The company has a debt-to-equity ratio of 122.88, a current ratio of 1.53 and a quick ratio of 145.00. The firm has a market capitalization of C$544.64 million, a PE ratio of 9.27 and a beta of 1.23.

Timbercreek Financial Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were issued a $0.0575 dividend. This represents a $0.69 annualized dividend and a yield of 10.45%. The ex-dividend date was Friday, February 28th. Timbercreek Financial’s dividend payout ratio is presently 96.90%.

Timbercreek Financial Company Profile

Timbercreek Financial Corp. provides shorter-duration structured financing solutions to commercial real estate investors in Canada. It focuses on lending against income-producing real estate properties, such as multi-residential, office, and retail buildings in urban markets. The company was founded in 2016 and is headquartered in Toronto, Canada.