Scotiabank Reiterates Outperform Rating for Tricon Capital Group (TSE:TCN)

Tricon Capital Group (TSE:TCN)‘s stock had its “outperform” rating reaffirmed by research analysts at Scotiabank in a note issued to investors on Wednesday, March 21st. They presently have a C$12.25 price target on the stock. Scotiabank’s price objective indicates a potential upside of 18.82% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. National Bank Financial reduced their target price on shares of Tricon Capital Group from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Monday, March 5th. Raymond James Financial reduced their target price on shares of Tricon Capital Group from C$13.75 to C$12.50 and set a “strong-buy” rating on the stock in a report on Monday, March 5th. Finally, Royal Bank of Canada cut their price objective on shares of Tricon Capital Group from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Friday, March 2nd. Three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Tricon Capital Group currently has a consensus rating of “Buy” and a consensus target price of C$12.86.

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TCN stock traded up C$0.46 during mid-day trading on Wednesday, hitting C$10.31. 397,600 shares of the company were exchanged, compared to its average volume of 262,081. Tricon Capital Group has a 12-month low of C$9.57 and a 12-month high of C$12.05.

Tricon Capital Group (TSE:TCN) last posted its quarterly earnings data on Wednesday, February 28th. The company reported C$0.50 EPS for the quarter. Tricon Capital Group had a net margin of 80.25% and a return on equity of 26.35%. The business had revenue of C$78.00 million during the quarter.

In other Tricon Capital Group news, insider Wissam Francis bought 5,400 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of C$10.02 per share, with a total value of C$54,108.00. Insiders bought a total of 7,422 shares of company stock worth $74,285 over the last ninety days.

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Tricon Capital Group Company Profile

Tricon Capital Group Inc is a principal investor and asset manager focused on the residential real estate industry in North America. The firm owns and manages on behalf of third-party investors a portfolio of investments in land and homebuilding assets, single-family rental homes, manufactured housing communities, and multi-family development projects.

Analyst Recommendations for Tricon Capital Group (TSE:TCN)

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