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Tricon Residential Inc T.TCN

Tricon Residential Inc. is an owner, operator, and developer of a portfolio of approximately 38,000 single-family rental homes in the United States Sun Belt and multi-family apartments in Canada. The Company provides rental housing options for families across the United States and Canada through its technology-enabled operating platform and on-the-ground operating teams. The Company's segments include Single-Family Rental, Adjacent Businesses, and Strategic Capital. The Single-Family Rental business includes owning and operating single-family rental homes primarily within major cities in the United States Sun Belt. Its Adjacent Businesses include multi-family rental and residential development. Its multi-family rental business segment includes one Class A high-rise property in downtown Toronto known as The Selby. Through its Strategic Capital business, the Company provides asset management, property management and development management services.


TSX:TCN - Post by User

Post by retiredcfon Aug 12, 2023 10:05am
99 Views
Post# 35585192

More Analysis of Results

More Analysis of ResultsEPS of $0.16 beat estimates of $0.122; revenue of $197.4M beat estimates of $113.5M. EBITDA of $147M crushed estimates of $69M. However, TCN narrowed its cash flow guidance, citing lower rent and ancillory revenue. This did surprise analysts. Cash flow per share is expected to be between $0.55 and $0.58 versus $0.57 estimated. It also expects less acquisitions this year. The Toronto segment still shows promise and the stock is still up 11% YTD, but the outlook may mute things for a quarter or two. That said, we would not change our overall positive viewpoint here. (5iResearch)
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