Opinions
Andrew Pyle
Tricon Residential
TCN-T
TOP PICK
Jun 05, 2023
Stock price when the opinion was issued
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Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Likes what they have done to set up the company well. Potential remains good. Likes the management and markets are starting to notice TCN. It is up 50% in the past year. Well positioned in the US market and their asset portfolio looks good. First pick in the Canadian real estate sector. Unlock Premium - Try 5i Free
The market has punished it too much. It is in the residential rental sector in the U.S., especially in the sun belt. The rentals are affordable and appeal especially to the 35 to 44 year old demographic who want to rent good homes rather than buy. The share price is at a 40% discount to the total value of all its homes. Good opportunities should emerge.
They keep buying rentals. Rental demand will keep rising and there's a massive shortage of apartments. Immigration is rising. Shares are cheap and will rise in the coming year.
(Analysts’ price target is $13.39)