Canaccord Genuity Group Cuts True North Commercial REIT (TSE:TNT.UN) Price Target to C$11.00

True North Commercial REIT (TSE:TNT.UN) had its target price cut by investment analysts at Canaccord Genuity Group from C$12.00 to C$11.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 4.56% from the stock’s previous close.

True North Commercial REIT Trading Down 5.9 %

Shares of TNT.UN stock traded down C$0.66 on Thursday, hitting C$10.52. 57,687 shares of the company’s stock traded hands, compared to its average volume of 26,604. The company has a debt-to-equity ratio of 175.73, a quick ratio of 0.06 and a current ratio of 0.14. True North Commercial REIT has a one year low of C$7.77 and a one year high of C$14.05. The company’s fifty day simple moving average is C$8.94 and its 200 day simple moving average is C$10.75. The stock has a market capitalization of C$152.12 million, a price-to-earnings ratio of -3.25 and a beta of 1.57.

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.