True North Commercial REIT (TSE:TNT.UN) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Shares of True North Commercial REIT (TSE:TNT.UN) crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$11.71 and traded as low as C$9.51. True North Commercial REIT shares last traded at C$10.24, with a volume of 48,761 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on TNT.UN. Raymond James raised their price objective on shares of True North Commercial REIT from C$10.00 to C$12.50 in a research note on Friday, September 6th. CIBC lifted their target price on shares of True North Commercial REIT from C$9.50 to C$11.25 in a research note on Monday, November 18th. Finally, Canaccord Genuity Group upped their price target on True North Commercial REIT from C$9.00 to C$12.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd.

True North Commercial REIT Trading Up 2.2 %

The company has a market capitalization of C$148.07 million, a price-to-earnings ratio of -3.16 and a beta of 1.57. The business has a fifty day moving average price of C$11.68 and a 200 day moving average price of C$10.60. The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06.

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 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.