Welcome to our dedicated page for Tricon Residential news (Ticker: TCN), a resource for investors and traders seeking the latest updates and insights on Tricon Residential stock.
Tricon Residential Inc (TCN) provides investors and stakeholders with timely updates through this comprehensive news hub. Track official announcements, strategic initiatives, and market developments from one of North America's leading residential real estate investors.
This resource consolidates all essential updates including earnings reports, portfolio expansions, and operational milestones. Users gain access to verified information about TCN's single-family rentals, multi-family developments, and asset management activities – critical for informed analysis of the company's performance.
The curated collection features press releases on land acquisitions, housing community management updates, and private fund developments. Stay informed about TCN's dual revenue streams from direct investments and advisory services without needing to track multiple sources.
Bookmark this page for direct access to primary-source updates on Tricon Residential's business operations. Check regularly for new developments in manufactured housing communities, homebuilding projects, and other core aspects of their $1.3 billion asset portfolio.
Tricon Residential Inc. (NYSE: TCN; TSX: TCN) invites stakeholders to join a live conference call on May 10, 2023, at 11 a.m. ET to discuss its first-quarter 2023 financial results. The financial statements will be available prior to the call on the Company's website and regulatory filings. Participants can join the call via phone or webcast, and a replay will be accessible from 2 p.m. ET on the same day until midnight ET on June 10, 2023. Tricon is a significant player in the U.S. Sun Belt rental market, managing a portfolio of about 36,000 single-family rental homes and multi-family apartments in Canada. The Company focuses on addressing housing supply shortages and providing quality rental options for families.
Tricon Residential Inc. (NYSE: TCN, TSX: TCN) reported strong Q4 2022 results, with a net income of $55.9 million and Core FFO surging 112.2% to $96.8 million. Basic earnings per share were $0.19, driven by a 9.7% increase in same home NOI and solid rent growth of 7.4%. The company acquired 815 homes at an average price of $331,000, expanding their portfolio to 35,908 homes. Tricon's liquidity remains robust with $704 million available. Looking ahead, the company anticipates a slower acquisition pace in 2023, expecting to acquire 2,000-4,000 homes, with Core FFO per share guidance set at $0.54-$0.59.
First Capital has appointed Paul C. Douglas as Chair of the Board and Ira Gluskin as a new Trustee following the retirement of Bernard McDonell. This transition is part of the Board's ongoing strategy to refresh its leadership while maintaining historical continuity. Douglas, who has been with the Board since 2019 and served in senior roles at TD Group, emphasized his commitment to executing First Capital’s strategic plan and enhancing value for unitholders. The Board aims to ensure diverse expertise through regular renewal and engagement with unitholders for governance excellence.
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