True North Commercial REIT (TSE:TNT.UN) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

True North Commercial REIT (TSE:TNT.UN)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.70 and traded as low as C$9.94. True North Commercial REIT shares last traded at C$10.54, with a volume of 28,769 shares trading hands.

Wall Street Analyst Weigh In

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

True North Commercial REIT Trading Up 6.4 %

The stock has a 50-day moving average of C$11.33 and a 200 day moving average of C$10.70. The company has a quick ratio of 0.06, a current ratio of 0.14 and a debt-to-equity ratio of 175.73. The stock has a market cap of C$152.41 million, a PE ratio of -3.25 and a beta of 1.57.

True North Commercial REIT Company Profile

True North Commercial REIT is a Canadian-based open-ended Real estate investment trust company. It owns and acquires Canadian commercial real estate properties. Its objective is to maximize total returns to unitholders. Returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties.