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

True North Commercial REIT (TSE:TNT.UN) shares passed 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.

Wall Street Analysts Forecast Growth

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

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 stock has a market capitalization of C$143.73 million, a price-to-earnings ratio of -3.07 and a beta of 1.57. The company has a 50-day simple moving average of C$9.01 and a two-hundred day simple moving average of C$10.71.

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.