Timbercreek Financial (TSE:TF) Sets New 52-Week Low Following Analyst Downgrade

Timbercreek Financial Corp. (TSE:TF)’s share price reached a new 52-week low during trading on Thursday after TD lowered their price target on the stock from C$7.00 to C$6.50. TD currently has a hold rating on the stock. Timbercreek Financial traded as low as C$6.07 and last traded at C$6.08, with a volume of 221440 shares. The stock had previously closed at C$6.23.

TF has been the subject of a number of other research reports. Raymond James Financial cut their target price on shares of Timbercreek Financial from C$7.50 to C$7.25 and set an “outperform” rating for the company in a research report on Thursday. National Bank Financial lowered their price target on shares of Timbercreek Financial from C$7.00 to C$6.50 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group dropped their price target on shares of Timbercreek Financial from C$6.75 to C$6.25 and set a “hold” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of C$6.62.

Timbercreek Financial Price Performance

The business has a fifty day moving average of C$6.48 and a 200-day moving average of C$6.72. The company has a current ratio of 4.01, a quick ratio of 145.00 and a debt-to-equity ratio of 232.22. The firm has a market cap of C$500.66 million, a PE ratio of 16.35 and a beta of 0.82.

Timbercreek Financial (TSE:TF) last posted its earnings results on Wednesday, July 29th. The company reported C$0.18 earnings per share for the quarter. Timbercreek Financial had a return on equity of 3.85% and a net margin of 17.14%.The business had revenue of C$34.86 million during the quarter. As a group, research analysts predict that Timbercreek Financial Corp. will post 0.7300725 earnings per share for the current year.

Timbercreek Financial Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 15th were given a $0.0575 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date was Friday, May 29th. Timbercreek Financial’s dividend payout ratio (DPR) is 186.49%.

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.