Timbercreek Financial (TSE:TF) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Timbercreek Financial (TSE:TF) from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat reports. Canaccord Genuity Group currently has C$7.30 price target on the stock, down from their prior price target of C$7.75.

Separately, National Bank Financial reduced their target price on shares of Timbercreek Financial from C$8.25 to C$8.00 and set a “sector perform” rating on the stock in a report on Thursday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Timbercreek Financial currently has an average rating of “Hold” and a consensus target price of C$7.77.

Timbercreek Financial Stock Up 0.7%

Shares of TSE:TF opened at C$6.76 on Friday. The firm has a market capitalization of C$559.41 million, a PE ratio of 14.70 and a beta of 1.01. Timbercreek Financial has a 1 year low of C$5.91 and a 1 year high of C$7.98. 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’s 50-day moving average is C$7.07 and its two-hundred day moving average is C$7.15.

About Timbercreek Financial

Timbercreek Financial Corp is a Canada-based non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors. It invests directly in a diversified portfolio of structured mortgage loans primarily secured by stabilized, income-producing commercial real estates, such as multi-residential, office and retail buildings located in urban markets across Canada. The company’s strategy is to preserve investor capital by lending mainly against income producing real estate, mitigate concentration risk by diversifying geographically by asset type and borrower and ensure loan to value ratios.