True North Commercial REIT (TSE:TNT.UN) Shares Pass Below 200-Day Moving Average – Here’s Why

True North Commercial REIT (TSE:TNT.UN) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.81 and traded as low as C$9.57. True North Commercial REIT shares last traded at C$9.63, with a volume of 19,455 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Canaccord Genuity Group boosted their price objective 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. CIBC lifted their price target on shares of True North Commercial REIT from C$9.50 to C$11.25 in a research note on Monday, November 18th.

True North Commercial REIT Stock Performance

The firm has a market cap of C$139.25 million, a PE ratio of -2.97 and a beta of 1.57. 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 business has a 50 day simple moving average of C$10.79 and a two-hundred day simple moving average of C$10.81.

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.