Pursue Wealth Partners LLC Invests $203,000 in Tricon Residential Inc. (NYSE:TCN)

Pursue Wealth Partners LLC purchased a new position in Tricon Residential Inc. (NYSE:TCN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,325 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Tricon Residential in the third quarter worth $192,000. NewEdge Wealth LLC grew its stake in shares of Tricon Residential by 12.5% in the fourth quarter. NewEdge Wealth LLC now owns 22,514 shares of the company’s stock worth $205,000 after purchasing an additional 2,500 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Tricon Residential by 11.2% during the third 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 in the last quarter. Bailard Inc. boosted its stake in Tricon Residential by 166.7% during the fourth quarter. Bailard Inc. now owns 28,800 shares of the company’s stock valued at $262,000 after buying an additional 18,000 shares in the last quarter. Finally, Versor Investments LP bought a new position in Tricon Residential during the third quarter valued at about $502,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Tricon Residential Trading Up 0.1 %

Shares of NYSE TCN traded up $0.01 during mid-day trading on Friday, hitting $11.23. 23,703,230 shares of the company traded hands, compared to its average volume of 8,903,803. The business has a 50 day moving average of $11.12 and a two-hundred day moving average of $9.54. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 38.72 and a beta of 1.43. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.41. Tricon Residential Inc. has a 1 year low of $6.53 and a 1 year high of $11.24.

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 business had revenue of $226.41 million during the quarter, compared to analysts’ expectations of $130.17 million. Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. On average, sell-side analysts anticipate that Tricon Residential Inc. will post 0.61 earnings per share for the current fiscal 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.