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

True North Commercial REIT (TSE:TNT.UN) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$9.00 and traded as high as C$10.16. True North Commercial REIT shares last traded at C$10.12, with a volume of 16,659 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price objective on True North Commercial REIT from C$12.00 to C$11.00 and set a “hold” rating on the stock in a research report on Thursday, March 20th.

True North Commercial REIT Stock Up 0.4 %

The company has a current ratio of 0.14, a quick ratio of 0.06 and a debt-to-equity ratio of 175.73. The company has a 50-day simple moving average of C$9.00 and a 200 day simple moving average of C$10.72. The company has a market cap of C$146.34 million, a P/E ratio of -3.12 and a beta of 1.57.

About True North Commercial REIT

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.