Pursue Wealth Partners LLC Acquires Shares of 22,325 Tricon Residential Inc. (NYSE:TCN)

Pursue Wealth Partners LLC acquired a new stake in Tricon Residential Inc. (NYSE:TCN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 22,325 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Tricon Residential in the 3rd quarter valued at $192,000. NewEdge Wealth LLC increased its stake in shares of Tricon Residential by 12.5% in the 4th quarter. NewEdge Wealth LLC now owns 22,514 shares of the company’s stock valued at $205,000 after buying an additional 2,500 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Tricon Residential by 11.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 32,548 shares of the company’s stock valued at $241,000 after buying an additional 3,284 shares during the period. Bailard Inc. increased its stake in shares of Tricon Residential by 166.7% in the 4th quarter. Bailard Inc. now owns 28,800 shares of the company’s stock valued at $262,000 after buying an additional 18,000 shares during the period. Finally, Versor Investments LP acquired a new stake in shares of Tricon Residential in the 3rd quarter valued at $502,000. Institutional investors own 62.28% of the company’s stock.

Tricon Residential Trading Up 0.1 %

NYSE:TCN traded up $0.01 on Friday, reaching $11.23. The company’s stock had a trading volume of 23,703,230 shares, compared to its average volume of 8,903,803. Tricon Residential Inc. has a 1-year low of $6.53 and a 1-year high of $11.24. 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 firm has a market cap of $3.33 billion, a PE ratio of 38.72 and a beta of 1.43. The business’s 50-day moving average price is $11.12 and its two-hundred day moving average price is $9.54.

Tricon Residential (NYSE:TCN) last posted its earnings results on Tuesday, February 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.28). Tricon Residential had a net margin of 19.97% and a return on equity of 3.12%. The business had revenue of $226.41 million during the quarter, compared to analyst estimates of $130.17 million. Equities research analysts anticipate that Tricon Residential Inc. will post 0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on TCN shares. Wolfe Research cut Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. Citigroup reissued a “neutral” rating and issued a $11.25 target price (up from $10.50) on shares of Tricon Residential in a research note on Monday, January 22nd. Keefe, Bruyette & Woods lifted 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. BMO Capital Markets cut Tricon Residential from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, Raymond James reaffirmed a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.47.

About Tricon Residential

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.