Will Tricon Residential Inc (TCN) benefit from Wall Street bulls Calls?

Tricon Residential Inc (NYSE: TCN) is 21.32% higher on its value in year-to-date trading and has touched a low of $6.53 and a high of $11.15 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The TCN stock was last observed hovering at around $11.03 in the last trading session, with the day’s gains setting it 0.01%.

Currently trading at $11.04, the stock is 4.21% and 16.95% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.04 million and changing 0.09% at the moment leaves the stock 30.70% off its SMA200. TCN registered 24.75% gain for a year compared to 6-month gain of 26.46%. The firm has a 50-day simple moving average (SMA 50) of $10.72 and a 200-day simple moving average (SMA200) of $16.22.

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The stock witnessed a 22.12% loss in the last 1 month and extending the period to 3 months gives it a 55.71%, and is 0.09% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 0.20% over the week and 0.79% over the month.

Tricon Residential Inc (TCN) has around Dec 28 2023 employees, a market worth around $3.02B and $691.04M in sales. Current P/E ratio is 17.67 and Fwd P/E is 20.07. Profit margin for the company is 30.29%. Distance from 52-week low is 69.20% and -0.99% from its 52-week high. The company has generated returns on investments over the last 12 months (2.27%).

Tricon Residential Inc quarterly earnings per share for the current quarter are estimated at $0.12 with sales reaching $115.56M over the same period.The EPS is expected to shrink by -71.21% this year, but quarterly earnings will post -43.40% year-over-year. Quarterly sales are estimated to shrink -41.00% in year-over-year returns.

Tricon Residential Inc (TCN) Top Institutional Holders

237 institutions hold shares in Tricon Residential Inc (TCN), with institutional investors hold 75.18% of the company’s shares. The shares outstanding are 272.84M, and float is at 259.62M with Short Float at 1.24%. Institutions hold 72.84% of the Float.

The top institutional shareholder in the company is Bank of Montreal/Can/ with over 19.58 million shares valued at $172.5 million. The investor’s holdings represent 7.17% of the TCN Shares outstanding. As of Jun 29, 2023, the second largest holder is T. Rowe Price Investment Management, Inc. with 18.15 million shares valued at $159.93 million to account for 6.65% of the shares outstanding. The other top investors are Royal Bank of Canada which holds 13.45 million shares representing 4.93% and valued at over $118.51 million, while Vanguard Group Inc holds 4.16% of the shares totaling 11.36 million with a market value of $100.08 million.

Tricon Residential Inc (TCN) Insider Activity

A total of 1 insider transactions have happened at Tricon Residential Inc (TCN) in the last six months, with sales accounting for 0 and purchases happening 1 times.