In recent trading session, Tricon Residential Inc (NYSE:TCN) saw 2.23 million shares changing hands at last check today with its beta currently measuring 0. Company’s recent per share price level of $11.16 trading at $0.02 or 0.14% at last check today assigns it a market valuation of $3.05B. That most recent trading price of TCN’s stock is at a discount of -0.09% from its 52-week high price of $11.17 and is indicating a premium of 41.49% from its 52-week low price of $6.53. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.63 million shares which gives us an average trading volume of 6.59 million if we extend that period to 3-months.
Tricon Residential Inc (NYSE:TCN) trade information
Upright in the green today for gaining 0.14%, in the last five days TCN remained trading in the green while hitting it’s week-highest on Friday, 03/22/24 when the stock touched $11.16 price level. Tricon Residential Inc’s shares saw a change of 22.58% in year-to-date performance and have moved 0.23% in past 5-day. Tricon Residential Inc (NYSE:TCN) showed a performance of 0.32% in past 30-days. Number of shares sold short was 2.8 million shares which calculate 0.61 days to cover the short interests.
Tricon Residential Inc (TCN) estimates and forecasts
Statistics highlight that Tricon Residential Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 39.26% of value to its shares in past 6 months, showing an annual growth rate of 46.34% while that of industry is 8.30. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 87.50% in the current quarter and calculating -6.30% decrease in the next quarter. This year revenue growth is estimated to fall -38.00% from the last financial year’s standing.
1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $121.4 million for the same. And 1 analysts are in estimates of company making revenue of $123.32 million in the next quarter that will end on Jun 2024. Company posted $110.87 million and $113.31 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 9.50% while estimating it to be 8.80% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -21.57% during past 5 years.
TCN Dividends
Tricon Residential Inc is more likely to be releasing its next quarterly report between May 07 and May 13 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Tricon Residential Inc (NYSE:TCN)’s Major holders
Insiders are in possession of 3.40% of company’s total shares while institution are holding 80.49 percent of that, with stock having share float percentage of 83.33%. Investors also watch the number of corporate investors in a company very closely, which is 80.49% institutions for Tricon Residential Inc that are currently holding shares of the company. T. Rowe Price Investment Management, Inc. is the top institutional holder at TCN for having 18.55 million shares of worth $206.89 million. And as of Dec 30, 2023, it was holding 6.78% of the company’s outstanding shares.
The second largest institutional holder is Bank of Montreal/Can/, which was holding about 15.13 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 5.53% of outstanding shares, having a total worth of $168.79 million.
On the other hand, Price (T.Rowe) Small-Cap Value Fund and Delaware Group Equity Funds V-Small Cap Value Fund are the top two Mutual Funds which own company’s shares. As of Dec 30, 2023, the former fund manager was holding 6.45 million shares of worth $71.9 million or 2.36% of the total outstanding shares. The later fund manager was in possession of 4.74 million shares on Nov 29, 2023, making its stake of worth around $52.82 million in the company or a holder of 1.73% of company’s stock.
