Tricon Residential Inc (NYSE: TCN) stock jumped 2.60% on Monday to $7.88 against a previous-day closing price of $7.68. With 1.23 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.2 million shares. During the session, the Real Estate Services company that operates in wider Real Estate sector, reached to the highest price of $7.88 whereas the lowest price it dropped to was $7.54. The 52-week range on TCN shows that it touched its highest point at $9.56 and its lowest point at $6.53 during that stretch. It currently has a 1-year price target of $9.50. With its current market cap of 2.14 billion, TCN has annualized dividend of $0.26 while the current yield stands at 3.33%.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TCN was up-trending over the past week, with a rise of 13.87%, but this was up by 16.22% over a month. Three-month performance dropped to -2.35% while six-month performance fell -2.72%. The stock lost -11.26% in the past year, while it has gained 2.20% so far this year. A look at the trailing 12-month EPS for TCN yields 0.62 with Next year EPS estimates of 0.40. For the next quarter, that number is 0.10. This implies an EPS growth rate of -78.79% for this year and -4.76% for next year.
Float and Shares Shorts:
At present, 272.84 million TCN shares are outstanding with a float of 256.85 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.24 million, which was 1.19% higher than short shares on Sep 28, 2023. In addition to Mr. David Berman B.Sc., M.B.A. as the firm’s Co-Founder & Executive Chairman, Mr. Gary Berman serves as its President, CEO & Director.
Through their ownership of 68.34% of TCN’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TCN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TCN analysts setting a high price target of $10.80 and a low target of $7.95, the average target price over the next 12 months is $9.50. Based on these targets, TCN could surge 37.06% to reach the target high and rise by 0.89% to reach the target low. Reaching the average price target will result in a growth of 20.56% from current levels.
Summary of Insider Activity:
Insiders traded TCN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 115 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 1,807,131 while 1,771,166 shares were sold.