Laurentian Boosts True North Commercial REIT (TSE:TNT.UN) Price Target to C$7.50
True North Commercial REIT (TSE:TNT.UN) had its price target raised by research analysts at Laurentian from C$7.00 to C$7.50 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Laurentian’s price target suggests a potential upside of 7.45% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. CIBC lifted their price target on shares of True North Commercial REIT from C$6.25 to C$7.25 and gave the company a “neutral” rating in a research report on Tuesday. Raymond James lifted their price target on shares of True North Commercial REIT from C$7.00 to C$7.50 in a research report on Friday, November 8th.
Shares of TSE:TNT.UN remained flat at $C$6.98 on Tuesday. 282,465 shares of the stock traded hands, compared to its average volume of 161,761. The stock’s 50-day moving average is C$6.83 and its 200-day moving average is C$6.66. True North Commercial REIT has a 12-month low of C$5.30 and a 12-month high of C$7.38. The company has a quick ratio of 0.45, a current ratio of 0.50 and a debt-to-equity ratio of 128.07. The company has a market cap of $487.46 million and a price-to-earnings ratio of 8.05.
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT currently owns and operates a portfolio of 46 commercial properties consisting of approximately 3.7 million square feet in urban and select strategic secondary markets across Canada focusing on long term leases with government and credit-rated tenants.
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