Timbercreek Financial (TSE:TF) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Timbercreek Financial Corp. (TSE:TF)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$6.36 and traded as low as C$6.07. Timbercreek Financial shares last traded at C$6.11, with a volume of 185,628 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. TD decreased their price target on shares of Timbercreek Financial from C$7.00 to C$6.50 and set a “hold” rating on the stock in a report on Friday, July 31st. Canaccord Genuity Group dropped their price objective on shares of Timbercreek Financial from C$6.75 to C$6.25 and set a “hold” rating for the company in a report on Thursday, July 30th. National Bank Financial cut their target price on shares of Timbercreek Financial from C$7.00 to C$6.50 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Finally, Raymond James Financial reduced their target price on Timbercreek Financial from C$7.50 to C$7.25 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$6.62.

Timbercreek Financial Stock Performance

The company’s fifty day moving average is C$6.35 and its 200 day moving average is C$6.62. The company has a market cap of C$502.31 million, a P/E ratio of 19.58 and a beta of 0.81. The company has a current ratio of 1.84, a quick ratio of 145.00 and a debt-to-equity ratio of 232.22.

Timbercreek Financial (TSE:TF) last released its earnings results on Wednesday, July 29th. The company reported C$0.18 earnings per share for the quarter. The company had revenue of C$45.12 million during the quarter. Timbercreek Financial had a return on equity of 3.85% and a net margin of 17.14%. As a group, equities analysts predict that Timbercreek Financial Corp. will post 0.7300725 earnings per share for the current fiscal year.

Timbercreek Financial Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 15th were given a $0.0575 dividend. The ex-dividend date was Friday, May 29th. This represents a c) annualized dividend and a yield of 11.4%. Timbercreek Financial’s payout ratio is presently 222.58%.

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.