Tricon Residential Inc. (NYSE:TCN) Shares Purchased by Bailard Inc.

Bailard Inc. increased its stake in shares of Tricon Residential Inc. (NYSE:TCN) by 166.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,800 shares of the company’s stock after buying an additional 18,000 shares during the period. Bailard Inc.’s holdings in Tricon Residential were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Tricon Residential by 128.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company’s stock worth $29,946,000 after acquiring an additional 2,274,603 shares in the last quarter. Caldwell Investment Management Ltd. grew its holdings in Tricon Residential by 746.8% in the fourth quarter. Caldwell Investment Management Ltd. now owns 810,740 shares of the company’s stock valued at $7,393,000 after purchasing an additional 715,000 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of Tricon Residential in the third quarter valued at $1,021,000. Vanguard Group Inc. raised its stake in shares of Tricon Residential by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,531,266 shares of the company’s stock worth $85,331,000 after buying an additional 171,518 shares during the last quarter. Finally, Land & Buildings Investment Management LLC acquired a new position in shares of Tricon Residential during the 3rd quarter worth $45,874,000. 62.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. BMO Capital Markets downgraded shares of Tricon Residential from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Wolfe Research cut shares of Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. Keefe, Bruyette & Woods upped their target price on Tricon Residential from $9.50 to $11.25 and gave the company a “market perform” rating in a research note on Monday, January 22nd. CIBC cut Tricon Residential from an “outperform” rating to a “tender” rating and boosted their price target for the stock from $10.00 to $11.25 in a report on Monday, January 22nd. Finally, Citigroup reaffirmed a “neutral” rating and set a $11.25 price objective (up previously from $10.50) on shares of Tricon Residential in a research note on Monday, January 22nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.47.

Tricon Residential Price Performance

Tricon Residential stock opened at $11.23 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.49 and a current ratio of 0.49. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 38.72 and a beta of 1.43. Tricon Residential Inc. has a 1 year low of $6.53 and a 1 year high of $11.24. The firm has a 50 day moving average price of $11.12 and a 200 day moving average price of $9.55.

Tricon Residential (NYSE:TCN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.28). The company had revenue of $226.41 million for the quarter, compared to analysts’ expectations of $130.17 million. Tricon Residential had a net margin of 19.97% and a return on equity of 3.12%. Sell-side analysts predict that Tricon Residential Inc. will post 0.61 earnings per share for the current year.

Tricon Residential Profile

Tricon Residential Inc (NYSE: TCN, TSX: TCN) is an owner, operator and developer of a growing portfolio of approximately 38,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Toronto, Canada. Our commitment to enriching the lives of our employees, residents and local communities underpins Tricon's culture and business philosophy.