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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 Apr 14, 2022 7:56am
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Post# 34602995

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BMO’s Stephen MacLeod raised his Tricon Residential Inc.  target to $23 from $22.50, exceeding the $20.95 average, with an “outperform” rating.

“We came away from Tricon’s investor day with confidence in its SFR [single-family rental] growth opportunities, differentiated partnership model and power of its tech-enabled operating platform,” he said. “We believe Tricon is well-positioned to drive 15-per-cent annual core FFOPS [funds from operations per share] growth through 2024, with sufficient liquidity and growth tailwinds. We believe that creeping negative sentiment towards the industry is misplaced; as it relates to Tricon, overlooking its role as a housing provider and contributor to housing supply. We see a long runway for growth.”

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