True North Commercial REIT (TSE:TNT.UN) PT Lowered to C$4.00 at Raymond James

True North Commercial REIT (TSE:TNT.UN – Get Rating) had its price objective cut by Raymond James from C$5.50 to C$4.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. They currently have a market perform rating on the stock.

TNT.UN has been the subject of several other reports. Canaccord Genuity Group reduced their price objective on True North Commercial REIT from C$6.25 to C$5.00 in a research note on Wednesday. National Bankshares dropped their target price on shares of True North Commercial REIT from C$5.50 to C$4.50 and set a sector perform rating for the company in a report on Thursday. Finally, CIBC dropped their target price on shares of True North Commercial REIT from C$6.00 to C$5.00 and set a neutral rating for the company in a report on Thursday.

True North Commercial REIT Trading Down 2.2 %

TSE:TNT.UN opened at C$3.49 on Thursday. The company has a debt-to-equity ratio of 156.87, a current ratio of 0.09 and a quick ratio of 0.06. The firm has a market capitalization of C$319.82 million, a price-to-earnings ratio of 5.63 and a beta of 1.31. True North Commercial REIT has a one year low of C$3.21 and a one year high of C$7.39. The business has a fifty day moving average price of C$5.95 and a 200-day moving average price of C$5.94.

True North Commercial REIT Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 17th. Investors of record on Monday, April 17th will be issued a $0.0248 dividend. This represents a $0.30 annualized dividend and a yield of 8.53%. The ex-dividend date is Thursday, March 30th. True North Commercial REIT’s dividend payout ratio is currently 95.16%.

True North Commercial REIT Company Profile

(Get Rating)

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.