Aew Capital Management L P Invests $6.04 Million in Tricon Residential Inc. (NYSE:TCN)

Aew Capital Management L P acquired a new stake in shares of Tricon Residential Inc. (NYSE:TCN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 664,030 shares of the company’s stock, valued at approximately $6,043,000. Aew Capital Management L P owned approximately 0.24% of Tricon Residential as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Tricon Residential by 128.4% during the third quarter. Wellington Management Group LLP now owns 4,046,558 shares of the company’s stock valued at $29,946,000 after purchasing an additional 2,274,603 shares in the last quarter. Caldwell Investment Management Ltd. boosted its stake in shares of Tricon Residential by 746.8% during the fourth quarter. Caldwell Investment Management Ltd. now owns 810,740 shares of the company’s stock valued at $7,393,000 after purchasing an additional 715,000 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of Tricon Residential during the third quarter valued at approximately $1,021,000. Vanguard Group Inc. boosted its stake in shares of Tricon Residential by 1.5% during the third quarter. Vanguard Group Inc. now owns 11,531,266 shares of the company’s stock valued at $85,331,000 after purchasing an additional 171,518 shares in the last quarter. Finally, Land & Buildings Investment Management LLC bought a new position in shares of Tricon Residential during the third quarter valued at approximately $45,874,000. 62.28% of the stock is currently owned by institutional investors.

Tricon Residential Stock Performance

Shares of NYSE TCN traded up $0.01 during midday trading on Friday, reaching $11.24. The company had a trading volume of 23,703,220 shares, compared to its average volume of 7,649,274. The business’s 50-day simple moving average is $11.12 and its 200 day simple moving average is $9.52. The stock has a market cap of $3.33 billion, a P/E ratio of 38.74 and a beta of 1.43. Tricon Residential Inc. has a 1 year low of $6.53 and a 1 year high of $11.24. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.41.

Tricon Residential (NYSE:TCN) last issued its earnings results 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). Tricon Residential had a return on equity of 3.12% and a net margin of 19.97%. The business had revenue of $226.41 million for the quarter, compared to analysts’ expectations of $130.17 million. On average, analysts forecast that Tricon Residential Inc. will post 0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TCN shares. BMO Capital Markets downgraded shares of Tricon Residential from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. CIBC downgraded shares of Tricon Residential from an “outperform” rating to a “tender” rating and raised their target price for the company from $10.00 to $11.25 in a research note on Monday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Tricon Residential from $9.50 to $11.25 and gave the company a “market perform” rating in a research note on Monday, January 22nd. Raymond James restated a “market perform” rating on shares of Tricon Residential in a research note on Monday, January 22nd. Finally, Wolfe Research downgraded shares of Tricon Residential from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.