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Tricon Residential Balance Sheet Health

Financial Health criteria checks 0/6

Tricon Residential has a total shareholder equity of $3.9B and total debt of $6.0B, which brings its debt-to-equity ratio to 156.1%. Its total assets and total liabilities are $13.2B and $9.4B respectively. Tricon Residential's EBIT is $426.6M making its interest coverage ratio 1.4. It has cash and short-term investments of $170.7M.

Key information

156.1%

Debt to equity ratio

US$6.04b

Debt

Interest coverage ratio	1.4x
Cash	US$170.74m
Equity	US$3.87b
Total liabilities	US$9.38b
Total assets	US$13.25b

Recent financial health updates

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

Financial Position Analysis

Short Term Liabilities: TCN's short term assets ($272.0M) do not cover its short term liabilities ($560.4M).

Long Term Liabilities: TCN's short term assets ($272.0M) do not cover its long term liabilities ($8.8B).

Debt to Equity History and Analysis

Debt Level: TCN's net debt to equity ratio (151.7%) is considered high.

Reducing Debt: TCN's debt to equity ratio has increased from 31.3% to 156.1% over the past 5 years.

Debt Coverage: TCN's debt is not well covered by operating cash flow (2.3%).

Interest Coverage: TCN's interest payments on its debt are not well covered by EBIT (1.4x coverage).

Balance Sheet

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/05/01 09:21
End of Day Share Price	2024/05/01 00:00
Earnings	2023/12/31
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Tricon Residential Inc. is covered by 18 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Wojtek Nowak	ATB Capital Markets
Stephen MacLeod	BMO Capital Markets Equity Research
Mark Rothschild	Canaccord Genuity

This company listing is no longer active

Tricon Residential Balance Sheet Health

Financial Health criteria checks 0/6

Key information

Recent financial health 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'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

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

Now 22% undervalued after recent price drop

Now 22% undervalued after recent price drop

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

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

Now 20% undervalued after recent price drop

Tricon Residential Inc. to Report Q1, 2022 Results on May 11, 2022

Upcoming dividend of US$0.058 per share

Independent Director recently sold US$180k worth of stock

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

Tricon Residential Inc. Declares A Quarterly Dividend, Payable on or After April 15, 2022

Full year 2021 earnings: EPS and revenues exceed analyst expectations