True North Commercial REIT (TSE:TNT.UN) Price Target Increased to C$12.00 by Analysts at Canaccord Genuity Group

True North Commercial REIT (TSE:TNT.UN) had its price target raised by equities researchers at Canaccord Genuity Group from C$9.00 to C$12.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential downside of 10.04% from the stock’s previous close.

Separately, Raymond James lifted 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.

True North Commercial REIT Stock Performance

TSE TNT.UN traded up C$0.90 on Monday, reaching C$13.34. The stock had a trading volume of 41,722 shares, compared to its average volume of 36,037. The company has a debt-to-equity ratio of 175.73, a quick ratio of 0.06 and a current ratio of 0.14. The stock has a market cap of C$192.90 million, a P/E ratio of -4.09 and a beta of 1.53. The business’s 50-day moving average price is C$10.08 and its 200 day moving average price is C$9.36. True North Commercial REIT has a 12-month low of C$6.33 and a 12-month high of C$14.05.

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.