Streetbeat News

TCN

Tricon Residential Inc

Employees

592

tricon is a principal investor and asset manager focused on the residential real estate industry in north america with approximately $4.6 billion (c$5.8 billion) of assets under management. tricon owns, or manages on behalf of third-party investors, a portfolio of investments in land and homebuilding assets, single-family rental homes, manufactured housing communities and multi-family development projects. our business objective is to invest for investment income and capital appreciation through our principal investment business and to earn fee income through our private funds and advisory business. since its inception in 1988, tricon has invested in real estate and development projects valued at approximately $19 billion.

Open

11.23

Mkt cap

3.1B

Volume

37M

High

11.25

P/E Ratio

27.44

52-wk high

11.25

Low

11.23

Div yield

0.01

52-wk low

6.53

Tricon Residential Inc. (NYSE:TCN) has received Investment Canada Act approval for its acquisition by Blackstone Real Estate for $11.25 per share in cash. The transaction, already approved by shareholders and regulatory bodies, is expected to close by May 1, 2024. Following the closure, Tricon's shares will be delisted from the NYSE and TSX, and the company will deregister from the U.S. Exchange Act.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 12:06 pm

Tricon Residential Inc. (NYSE:TCN) has received final court approval for its acquisition by Blackstone Real Estate, with all outstanding shares to be acquired for $11.25 each in cash. The transaction, subject to regulatory approval, is expected to close in Q2, leading to Tricon's delisting from the NYSE and TSX.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 9:06 pm

Tricon shareholders have voted in favor of the proposed take-private transaction by Blackstone Real Estate. This move will see Tricon delisted from public trading, marking a significant shift in its ownership structure.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 9:02 pm

Tricon has announced that it will not declare its regular quarterly dividend during the pendency of its arrangement agreement with Blackstone. This decision is directly related to the ongoing process and negotiations with Blackstone, indicating a significant corporate action that could impact shareholder returns in the short term.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:12 pm

Tricon Residential (NYSE:TCN) reported Q4 Core FFO per share of $0.15, surpassing the $0.14 estimate, and sales of $206.80M, exceeding the $117.4M estimate. This represents a 51.61% decrease in Core FFO per share year-over-year, but a 14.32% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:08 pm

Numerous companies are scheduled to report their earnings on February 27, 2024, covering a wide range of industries from technology and healthcare to energy and financial services. The report includes a mix of expected quarterly losses and earnings, highlighting the diverse financial health and performance outlooks within the corporate landscape.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 10:01 am

Wolfe Research analyst Keegan Carl downgrades Tricon Residential (NYSE:TCN) from Outperform to Peer Perform, indicating a change in the firm's outlook on the stock.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 10:27 am

Keefe, Bruyette & Woods analyst Jade Rahmani has maintained a 'Market Perform' rating on Tricon Residential (NYSE:TCN) and increased the price target from $9.5 to $11.25.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:30 pm

Citigroup analyst Michael Bilerman downgraded Tricon Residential (NYSE:TCN) from Buy to Neutral but increased the price target from $10.5 to $11.25.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:01 pm

Raymond James analyst Brad Sturges has downgraded Tricon Residential (NYSE:TCN) from Strong Buy to Market Perform, indicating a change in the company's stock outlook.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:59 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.