True North Commercial REIT (TSE:TNT.UN) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

True North Commercial REIT (TSE:TNT.UN)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$11.89 and traded as high as C$12.70. True North Commercial REIT shares last traded at C$12.57, with a volume of 20,686 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on TNT.UN. Canaccord Genuity Group raised their target price on shares of True North Commercial REIT from C$9.00 to C$12.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Raymond James raised their price target on shares of True North Commercial REIT from C$10.00 to C$12.50 in a research note on Friday, September 6th.

True North Commercial REIT Price Performance

The company has a debt-to-equity ratio of 175.73, a current ratio of 0.14 and a quick ratio of 0.06. The firm has a market capitalization of C$181.76 million, a price-to-earnings ratio of -3.88 and a beta of 1.57. The business’s fifty day simple moving average is C$11.89 and its 200 day simple moving average is C$9.95.

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.