Tricon Residential Inc (NYSE:TCN) has seen 6.51 million shares traded in the recent trading session. The company, currently valued at $3.04B, closed the recent trade at $11.11 per share which meant it lost -$0.04 on the day or -0.31% during that session. The TCN stock price is -0.54% off its 52-week high price of $11.17 and 41.22% above the 52-week low of $6.53. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.24 million shares traded. The 3-month trading volume is 5.93 million shares.
Tricon Residential Inc (NYSE:TCN) trade information
Sporting -0.31% in the red today, the stock has traded in the red over the last five days, when the TCN stock price touched $11.11 or saw a rise of 0.54%. Year-to-date, Tricon Residential Inc shares have moved 22.14%, while the 5-day performance has seen it change -0.40%. Over the past 30 days, the shares of Tricon Residential Inc (NYSE:TCN) have changed 0.59%. Short interest in the company has seen 2.8 million shares shorted with days to cover at 0.61.
Tricon Residential Inc (TCN) estimates and forecasts
Figures show that Tricon Residential Inc shares have outperformed across the wider relevant industry. The company’s shares have gained 31.85% over the past 6 months, with this year growth rate of 46.34%, compared to 7.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 87.50% and -6.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be -38.00%.
1 analysts offering their estimates for the company have set an average revenue estimate of $121.4 million for the current quarter. 1 have an estimated revenue figure of $123.32 million for the next quarter concluding in Jun 2024. Year-ago sales stood $110.87 million and $113.31 million respectively for this quarter and the next, and analysts expect sales will grow by 9.50% for the current quarter and 8.80% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -21.57% over the past 5 years.
TCN Dividends
Tricon Residential Inc is expected to release its next earnings report between May 07 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.23 at a share yield of 2.09%. The company’s dividend yield has gone up over the past 12 months.
Tricon Residential Inc (NYSE:TCN)’s Major holders
Insiders own 3.40% of the company shares, while shares held by institutions stand at 80.47% with a share float percentage of 83.31%. Investors are also buoyed by the number of investors in a company, with Tricon Residential Inc having a total of 252 institutions that hold shares in the company. The top two institutional holders are Bank of Montreal/Can/ with over 19.58 million shares worth more than $172.5 million. As of Jun 29, 2023, Bank of Montreal/Can/ held 7.17% of shares outstanding.
The other major institutional holder is T. Rowe Price Investment Management, Inc., with the holding of over 18.15 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $159.93 million and represent 6.65% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Price (T.Rowe) Small-Cap Value Fund and Delaware Group Equity Funds V-Small Cap Value Fund. As of Jun 29, 2023, the former fund manager holds about 2.38% shares in the company for having 6.49 million shares of worth $57.14 million while later fund manager owns 4.87 million shares of worth $39.23 million as of May 30, 2023, which makes it owner of about 1.79% of company’s outstanding stock.
