Tricon Residential (NYSE:TCN) - Stock Price, News & Analysis

TCN Stock Overview

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.

About the company

TCN fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	1/6
Past Performance	1/6
Financial Health	0/6
Dividends	4/6

Rewards

Earnings are forecast to grow 4.69% per year

Risk Analysis

Interest payments are not well covered by earnings

Large one-off items impacting financial results

Profit margins (12.9%) are lower than last year (92.4%)

Shareholders have been diluted in the past year

+ 2 more risks

Tricon Residential Inc. Competitors

DigitalBridge Group

NYSE:DBRG

US$2.6b

FRP Holdings

NasdaqGS:FRPH

US$572.1m

Copper Property CTL Pass Through Trust

OTCPK:CPPT.L

US$712.5m

Transcontinental Realty Investors

NYSE:TCI

US$244.5m

Price History & Performance

Summary of all time highs, changes and price drops for Tricon Residential
Historical stock prices
Current Share Price	CA$11.25
52 Week High	CA$11.25
52 Week Low	CA$6.53
Beta	1.47
1 Month Change	0.81%
3 Month Change	1.99%
1 Year Change	43.31%
3 Year Change	3.27%
5 Year Change	39.32%
Change since IPO	52.05%

Recent updates

Tricon Residential: Expected Growth Consistent With Housing Recovery Theme And Scale Expansion

May 25

Tricon Residential Is Cheap Relative To Its Growth

Feb 16

Tricon Residential: Between A Rock And A Hard Place

Nov 11

Tricon Residential to sell 20% equity interest in Sun Belt apartment portfolio

Oct 12

Tricon Capital goes ex-dividend tomorrow

Sep 28

Tricon Residential stock gains after nabbing Strong Buy from Raymond James

Aug 02

Tricon Residential: Opportunity Follows Fear

Jun 23

Zillow's Hottest Housing Markets 2022: Tricon Residential Is On Target

Mar 17

Tricon Residential CEO Gary Berman - Single Family Rentals An Exciting Asset Class (Video)

Oct 11

Shareholder Returns

	TCN	US Real Estate	US Market
7D	2.1%	3.0%	1.7%
1Y	43.3%	13.1%	26.0%

Return vs Industry: TCN exceeded the US Real Estate industry which returned 12.6% over the past year.

Return vs Market: TCN exceeded the US Market which returned 22.3% over the past year.

Price Volatility

Is TCN's price volatile compared to industry and market?
TCN volatility
TCN Average Weekly Movement	0.8%
Real Estate Industry Average Movement	6.3%
Market Average Movement	5.9%
10% most volatile stocks in US Market	16.1%
10% least volatile stocks in US Market	2.8%

Stable Share Price: TCN has not had significant price volatility in the past 3 months.

Volatility Over Time: TCN's weekly volatility (1%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1997	978	Gary Berman	www.triconresidential.com

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.

Tricon Residential Inc. Fundamentals Summary

How do Tricon Residential's earnings and revenue compare to its market cap?
TCN fundamental statistics
Market cap	US$3.32b
Earnings (TTM)	US$114.19m
Revenue (TTM)	US$884.73m

29.1x

P/E Ratio

3.8x

P/S Ratio

Is TCN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TCN income statement (TTM)
Revenue	US$884.73m
Cost of Revenue	US$261.94m
Gross Profit	US$622.79m
Other Expenses	US$508.60m
Earnings	US$114.19m

Last Reported Earnings

Dec 31, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	0.39
Gross Margin	70.39%
Net Profit Margin	12.91%
Debt/Equity Ratio	156.1%

How did TCN perform over the long term?

See historical performance and comparison

Dividends

2.1%

Current Dividend Yield

56%

Payout Ratio

TCN Stock Overview

Rewards

Risk Analysis

Tricon Residential Inc. Competitors

NYSE:DBRG

US$2.6b

NasdaqGS:FRPH

US$572.1m

OTCPK:CPPT.L

US$712.5m

NYSE:TCI

US$244.5m

Price History & Performance

Recent News & Updates

Tricon Residential Files Form 15

Common Shares of Tricon Residential to be De-Listed from the New York Stock Exchange and Toronto Stock Exchange on May 2, 2024

Tricon Residential Inc.(TSX:TCN) dropped from S&P/TSX Capped Composite Index

Tricon Residential's Common Shares to be Delisted from the New York Stock Exchange and the Toronto Stock Exchange

Tricon Residential's Common Shares to be Delisted from the New York Stock Exchange and the Toronto Stock Exchange

Independent Director recently sold US$3.9m worth of stock

Recent updates

Tricon Residential Files Form 15

Common Shares of Tricon Residential to be De-Listed from the New York Stock Exchange and Toronto Stock Exchange on May 2, 2024

Tricon Residential Inc.(TSX:TCN) dropped from S&P/TSX Capped Composite Index

Tricon Residential's Common Shares to be Delisted from the New York Stock Exchange and the Toronto Stock Exchange

Tricon Residential's Common Shares to be Delisted from the New York Stock Exchange and the Toronto Stock Exchange

Independent Director recently sold US$3.9m worth of stock

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

New minor risk - Shareholder dilution

Tricon Residential Inc. to Report Q4, 2023 Results on Feb 27, 2024

Tricon Residential: Blackstone's Accretive Acquisition

Price target increased by 7.8% to US$10.78

Blackstone Real Estate Partners X L.P., a fund managed by Blackstone Real Estate Advisors L.P. entered into an arrangement agreement to acquire remaining 89% stake in Tricon Residential Inc. (TSX:TCN) for $2.7 billion.

Blackstone Real Estate Partners X L.P., a fund managed by Blackstone Real Estate Advisors L.P. entered into an arrangement agreement to acquire remaining 89% stake in Tricon Residential Inc. (TSX:TCN) for $2.7 billion.

Investor sentiment improves as stock rises 21%

Blackstone Real Estate Income Trust, Inc. and Blackstone Real Estate Partners X L.P., a fund managed by Blackstone Real Estate Advisors L.P. entered into an arrangement agreement to acquire Tricon Residential Inc. (TSX:TCN) for $3.5 billion.

President recently bought US$381k worth of stock

Upcoming dividend of US$0.058 per share at 2.6% yield

Tricon Residential: Attractive Set-Up Going Into 2024

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Tricon Residential Inc. Declares Quarterly Dividend, Payable on or After January 15, 2024

Tricon Residential Inc. to Report Q3, 2023 Results on Nov 08, 2023

Insufficient new directors

Upcoming dividend of US$0.058 per share at 2.8% yield

Tricon Residential's Performance Revenue Is Not Priced Into The Stock

New minor risk - Profit margin trend

Second quarter 2023 earnings released: EPS: US$0.17 (vs US$1.47 in 2Q 2022)

Tricon Residential Inc. Declares Dividend, Payable on or After October 15, 2023

Tricon Residential Inc. to Report Q2, 2023 Results on Aug 09, 2023

Tricon Residential Offers A Lot Of Value At Current Prices

Upcoming dividend of US$0.058 per share at 2.7% yield

Tricon Residential: Expected Growth Consistent With Housing Recovery Theme And Scale Expansion

First quarter 2023 earnings released: EPS: US$0.098 (vs US$0.59 in 1Q 2022)

Tricon Residential Inc. Declares Dividend, Payable on or After July 15, 2023

Upcoming dividend of US$0.058 per share at 3.1% yield

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Tricon Residential Is Cheap Relative To Its Growth

Tricon Residential Inc. to Report Q4, 2022 Results on Mar 02, 2023

Upcoming dividend of US$0.058 per share

Executive VP & CFO recently bought US$152k worth of stock

Price target decreased to US$12.34

Tricon Residential: Between A Rock And A Hard Place

Price target decreased to US$12.59

Tricon Residential Inc. Declares Dividend, Payable on or After January 15, 2023

Price target decreased to US$13.28

A vertically integrated residential real estate investment and property management company completed the acquisition of 20% stake in Portfolio of 23 Sun Belt Apartment Buildings.

A vertically integrated residential real estate investment and property management company completed the acquisition of 20% stake in Portfolio of 23 Sun Belt Apartment Buildings.

A vertically integrated residential real estate investment and property management company entered into an agreement to acquire 20% stake in portfolio of 23 Sun Belt apartment buildings from Tricon Residential Inc. (TSX:TCN) for approximately CAD 320 million.

Tricon Residential to sell 20% equity interest in Sun Belt apartment portfolio

Tricon Residential Inc. to Report Q3, 2022 Results on Nov 09, 2022

Tricon Capital goes ex-dividend tomorrow

Upcoming dividend of US$0.058 per share

Now 21% undervalued after recent price drop

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Tricon Residential Inc. Declares Dividend, Payable on or After October 15, 2022

Tricon Residential stock gains after nabbing Strong Buy from Raymond James

Tricon Residential Inc. to Report Q2, 2022 Results on Aug 11, 2022

Tricon Residential: Opportunity Follows Fear

Upcoming dividend of US$0.058 per share

Investor sentiment deteriorated over the past week