Canaccord Genuity Group downgraded shares of True North Commercial REIT (TSE:TNT.UN – Free Report) from a buy rating to a hold rating in a research note released on Monday morning,BayStreet reports. The firm currently has C$7.50 price objective on the stock.
True North Commercial REIT Stock Down 1.5%
Shares of TSE:TNT.UN opened at C$7.43 on Monday. The stock’s 50-day moving average price is C$8.02 and its 200-day moving average price is C$8.38. True North Commercial REIT has a 12-month low of C$7.39 and a 12-month high of C$9.29. The stock has a market capitalization of C$104.52 million, a P/E ratio of -4.41 and a beta of 0.83. The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of 175.73.
True North Commercial REIT (TSE:TNT.UN – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported C($0.23) EPS for the quarter. True North Commercial REIT had a negative return on equity of 10.66% and a negative net margin of 38.96%. The company had revenue of C$27.85 million during the quarter.
True North Commercial REIT Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be given a dividend of $0.0575 per share. This represents a $0.69 annualized dividend and a yield of 9.3%. The ex-dividend date is Friday, October 30th. True North Commercial REIT’s dividend payout ratio (DPR) is presently -40.92%.
True North Commercial REIT Company Profile
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 37 properties consisting of approximately 4.4 million square feet in urban and select strategic secondary markets across Canada. The REIT is focused on growing its portfolio principally through acquisitions across Canada and such other jurisdictions where opportunities exist.
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