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Tricon Residential Inc (TCN) Is Up 22.64% in 2024 With Lots of Room to Run

Tricon Residential Inc (NYSE: TCN) is 22.64% higher on its value in year-to-date trading and has touched a low of $6.53 and a high of $11.19 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 $11.15 in the last trading session, with the day’s gains setting it 0.01%.

Currently trading at $11.16, the stock is 0.24% and 1.11% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.02 million and changing 0.09% at the moment leaves the stock 24.76% off its SMA200. TCN registered 47.81% gain for a year compared to 6-month gain of 51.42%. The firm has a 50-day simple moving average (SMA 50) of $10.21 and a 200-day simple moving average (SMA200) of $18.88.

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The stock witnessed a 0.27% loss in the last 1 month and extending the period to 3 months gives it a 21.17%, and is 0.18% 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 0.40% over the week and 0.32% over the month.

Tricon Residential Inc (TCN) has around 1026 employees, a market worth around $3.05B and $857.07M in sales. Current P/E ratio is 30.91 and Fwd P/E is 16.29. Profit margin for the company is 13.32%. Distance from 52-week low is 71.03% and -0.27% from its 52-week high. The company has generated returns on investments over the last 12 months (1.15%).

Tricon Residential Inc quarterly earnings per share for the current quarter are estimated at $0.15 with sales reaching $121.4M over the same period.The EPS is expected to grow by 45.12% this year, but quarterly earnings will post -37.50% year-over-year. Quarterly sales are estimated to grow 9.50% in year-over-year returns.

Tricon Residential Inc (TCN) Top Institutional Holders

252 institutions hold shares in Tricon Residential Inc (TCN), with institutional investors hold 83.30% of the company’s shares. The shares outstanding are 272.64M, and float is at 238.83M with Short Float at 1.17%. Institutions hold 80.48% 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.

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