True North Commercial REIT (TSE:TNT.UN) Receives Average Recommendation of “Hold” from Brokerages


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True North Commercial REIT (TSE:TNT.UN) has been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$6.71.

A number of equities research analysts have recently commented on TNT.UN shares. Laurentian Bank of Canada cut shares of True North Commercial REIT from a “buy” rating to a “hold” rating and reduced their target price for the company from C$7.25 to C$6.50 in a report on Monday, March 8th. Raymond James cut their price target on shares of True North Commercial REIT from C$7.00 to C$6.75 and set a “market perform” rating for the company in a report on Friday, March 5th. National Bankshares started coverage on shares of True North Commercial REIT in a report on Thursday, April 1st. They set a “sector perform” rating and a C$7.00 price target for the company. Canaccord Genuity reaffirmed a “na” rating and issued a C$6.75 target price (up from C$6.50) on shares of True North Commercial REIT in a report on Friday, March 5th. Finally, CIBC reaffirmed an “outperform” rating and issued a C$6.75 target price (up from C$6.25) on shares of True North Commercial REIT in a report on Friday, March 5th.

Shares of TNT.UN stock traded up C$0.08 on Thursday, reaching C$7.00. 215,676 shares of the stock were exchanged, compared to its average volume of 192,873. The company has a current ratio of 0.38, a quick ratio of 0.36 and a debt-to-equity ratio of 160.28. The business’s 50 day moving average price is C$6.71 and its 200 day moving average price is C$6.26. The company has a market capitalization of C$604.42 million and a price-to-earnings ratio of 15.04. True North Commercial REIT has a twelve month low of C$4.91 and a twelve month high of C$7.12.

The business also recently declared a monthly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 15th were paid a dividend of $0.0495 per share. This represents a $0.59 dividend on an annualized basis and a yield of 8.49%. The ex-dividend date was Thursday, February 25th. True North Commercial REIT’s dividend payout ratio is currently 129.13%.

True North Commercial REIT Company Profile

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 46 commercial properties consisting of approximately 3.7 million square feet in urban and select strategic secondary markets across Canada focusing on long term leases with government and credit-rated tenants.

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Analyst Recommendations for True North Commercial REIT (TSE:TNT.UN)

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