Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic.
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Price History & Performance
|Historical stock prices|
|Current Share Price||CA$16.63|
|52 Week High||CA$10.52|
|52 Week Low||CA$16.71|
|1 Month Change||6.88%|
|3 Month Change||16.70%|
|1 Year Change||53.56%|
|3 Year Change||52.85%|
|5 Year Change||79.59%|
|Change since IPO||172.62%|
Recent News & Updates
|TCN||CA Real Estate||CA Market|
Return vs Industry: TCN exceeded the Canadian Real Estate industry which returned 42.7% over the past year.
Return vs Market: TCN exceeded the Canadian Market which returned 31.4% over the past year.
Stable Share Price: TCN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: TCN's weekly volatility (3%) has been stable over the past year.
About the Company
Founded in 1988, Tricon is a rental housing company focused on serving the middle-market demographic. Tricon owns and operates approximately 31,000 single-family rental homes and multi-family rental units in 21 markets across the United States and Canada, managed with an integrated technology-enabled operating platform. More information about Tricon is available at www.triconresidential.com.
Tricon Residential Fundamentals Summary
|TCN fundamental statistics|
Is TCN overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|TCN income statement (TTM)|
|Cost of Revenue||US$198.92m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.41|
|Net Profit Margin||53.13%|
How did TCN perform over the long term?See historical performance and comparison
1.7%Current Dividend Yield
Does TCN pay a reliable dividends?See TCN dividend history and benchmarks
|Tricon Residential dividend dates|
|Ex Dividend Date||Sep 28 2021|
|Dividend Pay Date||Oct 15 2021|
|Days until Ex dividend||3 days|
|Days until Dividend pay date||20 days|
Does TCN pay a reliable dividends?See TCN dividend history and benchmarks
Is Tricon Residential undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: TCN (CA$16.63) is trading below our estimate of fair value (CA$24.03)
Significantly Below Fair Value: TCN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: TCN is good value based on its PE Ratio (9.3x) compared to the Canadian Real Estate industry average (11x).
PE vs Market: TCN is good value based on its PE Ratio (9.3x) compared to the Canadian market (12.8x).
Price to Earnings Growth Ratio
PEG Ratio: TCN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: TCN is overvalued based on its PB Ratio (1.5x) compared to the CA Real Estate industry average (1x).
How is Tricon Residential forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: TCN's earnings are forecast to decline over the next 3 years (-38.4% per year).
Earnings vs Market: TCN's earnings are forecast to decline over the next 3 years (-38.4% per year).
High Growth Earnings: TCN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: TCN's revenue is expected to decline over the next 3 years (-9.6% per year).
High Growth Revenue: TCN's revenue is forecast to decline over the next 3 years (-9.6% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if TCN's Return on Equity is forecast to be high in 3 years time
How has Tricon Residential performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: TCN has a large one-off gain of $385.0M impacting its June 30 2021 financial results.
Growing Profit Margin: TCN's current net profit margins (53.1%) are higher than last year (38.8%).
Past Earnings Growth Analysis
Earnings Trend: TCN's earnings have grown by 18.7% per year over the past 5 years.
Accelerating Growth: TCN's earnings growth over the past year (442%) exceeds its 5-year average (18.7% per year).
Earnings vs Industry: TCN earnings growth over the past year (442%) exceeded the Real Estate industry 38.2%.
Return on Equity
High ROE: TCN's Return on Equity (16%) is considered low.
How is Tricon Residential's financial position?
Financial Position Analysis
Short Term Liabilities: TCN's short term assets ($130.7M) do not cover its short term liabilities ($365.7M).
Long Term Liabilities: TCN's short term assets ($130.7M) do not cover its long term liabilities ($4.5B).
Debt to Equity History and Analysis
Debt Level: TCN's debt to equity ratio (183.9%) is considered high.
Reducing Debt: TCN's debt to equity ratio has increased from 23.6% to 183.9% over the past 5 years.
Debt Coverage: TCN's debt is not well covered by operating cash flow (3.1%).
Interest Coverage: TCN's interest payments on its debt are not well covered by EBIT (1.7x coverage).
What is Tricon Residential current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: TCN's dividend (1.66%) is higher than the bottom 25% of dividend payers in the Canadian market (1.65%).
High Dividend: TCN's dividend (1.66%) is low compared to the top 25% of dividend payers in the Canadian market (4.58%).
Stability and Growth of Payments
Stable Dividend: TCN's dividend payments have been volatile in the past 10 years.
Growing Dividend: TCN's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (13.5%), TCN's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Gary Berman (47 yo)
Mr. Gary Berman has been the Chief Executive Officer and President of Tricon Residential Inc. (Formerly, Tricon Capital Group Inc.) since March 10, 2015. He is involved in overseeing all aspects of Tricon'...
CEO Compensation Analysis
Compensation vs Market: Gary's total compensation ($USD4.47M) is above average for companies of similar size in the Canadian market ($USD2.96M).
Compensation vs Earnings: Gary's compensation has been consistent with company performance over the past year.
Experienced Management: TCN's management team is seasoned and experienced (5.4 years average tenure).
Experienced Board: TCN's board of directors are considered experienced (6.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 17.1%.
Tricon Residential Inc.'s employee growth, exchange listings and data sources
- Name: Tricon Residential Inc.
- Ticker: TCN
- Exchange: TSX
- Founded: 1988
- Industry: Real Estate Operating Companies
- Sector: Real Estate
- Market Cap: CA$3.736b
- Shares outstanding: 225.75m
- Website: https://www.triconresidential.com
Number of Employees
- Tricon Residential Inc.
- 7 St. Thomas Street
- Suite 801
- M5S 2B7
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/24 22:20|
|End of Day Share Price||2021/09/24 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.