Timbercreek Financial (TSE:TF) Downgraded to “Hold” Rating by Canaccord Genuity Group

Timbercreek Financial (TSE:TF) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Friday,BayStreet.CA reports. They currently have a C$7.30 target price on the stock, down from their prior target price of C$7.75. Canaccord Genuity Group’s price objective would indicate a potential upside of 8.31% from the company’s previous close.

Separately, National Bank Financial reduced their price target on shares of Timbercreek Financial from C$8.25 to C$8.00 and set a “sector perform” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$7.77.

Timbercreek Financial Stock Performance

Shares of TF stock traded up C$0.03 during mid-day trading on Friday, hitting C$6.74. The stock had a trading volume of 492,160 shares, compared to its average volume of 231,559. The company has a debt-to-equity ratio of 122.88, a current ratio of 1.53 and a quick ratio of 145.00. The firm has a market cap of C$557.76 million, a PE ratio of 14.65 and a beta of 1.01. Timbercreek Financial has a fifty-two week low of C$5.91 and a fifty-two week high of C$7.98. The company’s 50-day simple moving average is C$7.07 and its 200-day simple moving average is C$7.16.

About Timbercreek Financial

Timbercreek Financial Corp is a Canada-based non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors. It invests directly in a diversified portfolio of structured mortgage loans primarily secured by stabilized, income-producing commercial real estates, such as multi-residential, office and retail buildings located in urban markets across Canada. The company’s strategy is to preserve investor capital by lending mainly against income producing real estate, mitigate concentration risk by diversifying geographically by asset type and borrower and ensure loan to value ratios.