True North Commercial REIT (TSE:TNT.UN) Shares Pass Above 50 Day Moving Average of $8.94

Shares of True North Commercial REIT (TSE:TNT.UN) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$8.94 and traded as high as C$9.72. True North Commercial REIT shares last traded at C$9.50, with a volume of 69,849 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TNT.UN shares. Raymond James cut their price objective on shares of True North Commercial REIT from C$11.25 to C$10.00 and set a “market perform” rating on the stock in a research report on Thursday, March 21st. National Bankshares increased their price objective on shares of True North Commercial REIT from C$8.65 to C$8.75 and gave the stock a “sector perform” rating in a research report on Monday, January 29th. Finally, CIBC increased their price objective on shares of True North Commercial REIT from C$8.05 to C$9.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st.

True North Commercial REIT Stock Performance

The company’s 50-day simple moving average is C$8.94 and its 200 day simple moving average is C$7.26. The company has a current ratio of 0.41, a quick ratio of 0.06 and a debt-to-equity ratio of 182.25. The stock has a market cap of C$142.41 million, a P/E ratio of -3.67 and a beta of 1.53.

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.