Tricon Residential

Tricon Residential, Inc. is a residential real estate investment company. It owns and operates single family rental homes and multi-family rental apartments in the United States and Canada. It operates through the five reportable segments: Single Family Rental Business,Multi Family Rental Business, Residential Development Business, Private Funds and Advisory Business and Corporate Activities. The Single Family Rental Business segment owns and operates single family rental homes primarily within major cities in the United States Sun Belt. The Multi Family Rental Business segment owns and operates garden style multi family rental properties primarily in the United States Sun Belt and condominium quality rental apartments in downtown Toronto. The Residential Development Business segment designs and develops premier multi family rental properties in Toronto. The Private Funds and Advisory Business segment provides asset management, property management and development management services. The Corporate Activities segment provides support functions in the areas of accounting, treasury, credit management, information technology, legal, and human resources. The company was founded by Geoffrey Matus and David Berman on June 3, 1988 and is headquartered in Toronto, Canada.

Earnings data Q3 2021

Earnings data Q4 2021

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Earnings data Q4 2022

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

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TWe are a rental housing company dedicated to providing an exceptional rental experience to every resident who makes one of our houses or apartments their home. We believe that quality rental housing can unlock life’s potential, and this drives our thinking and our actions every day. Founded in 1988 and listed on the Toronto Stock Exchange (TSX: TCN), Tricon owns over 30,000 single-family and multi-family rental homes across the United States and Canada, which we manage using an integrated technology-enabled operating platform. We are headquartered in Toronto, Ontario and have significant operations in Orange County, California, as well as approximately 20 other markets with a primary focus in the U.S. Sun Belt. We strive to be North America’s premier rental housing company. Our business philosophy involves taking care of our team first – empowering them to provide our residents with exceptional service and to positively impact the local communities where we operate. By providing an enhanced living experience, our residents rent for longer periods of time, treat our properties like their own, and share their experience with friends and family. This is how we continue to grow, and it is an approach that has proven to generate positive returns for our investors and shareholders.

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Tricon Residential is primarily an owner/operator of single-family rental homes in the US Sun Belt. It has underperformed its peers due to its higher leverage, exposure to variable rate debt, and high overhead. The current price offers a substantial margin of safety and an attractive set-up going into 2024 with several potential catalysts.

Tricon Residential: Attractive Set-Up Going Into 2024

NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA assigns preliminary ratings to four classes of Tricon Residential 2023-SFR2 (TCN 2023-SFR2) single-family rental pass-through certificates. TCN 2023-SFR2 is a single-borrower, single-family rental (SFR) securitization that will be collateralized by a $389.4 million loan secured by first priority mortgages on 1,686 income-producing single-family homes. The fixed-rate loan requires interest payments only over its five-year term. The subject transaction will be the.

KBRA Assigns Preliminary Ratings to Tricon Residential 2023-SFR2

Tricon Residential Inc. (NYSE:TCN ) Q3 2023 Results Conference Call November 8, 2023 11:00 AM ET Company Participants Wojtek Nowak - Managing Director-Capital Markets Gary Berman - President and CEO Wissam Francis - CFO Kevin Baldridge - COO Jonathan Ellenzweig - EVP and Chief Investment Officer Conference Call Participants Brad Heffern - RBC Capital Markets Haendel St. Juste - Mizuho Securities Stephen MacLeod - BMO Capital Markets Mario Saric - Scotiabank Keegan Carl - Wolfe Research Eric Wolfe - Citi Adam Kramer - Morgan Stanley Jonathan Kelcher - TD Securities Jason Sabshon - KBW Operator [Call Starts Abruptly] [Operator Instructions] I would now like to hand the conference over to your speaker today, Wojtek Nowak, Managing Director of Capital Markets. Wojtek Nowak Thank you, operator.

Tricon Residential Inc. (TCN) Q3 2023 Earnings Call Transcript

TORONTO--(BUSINESS WIRE)--Tricon Residential Inc. (NYSE: TCN, TSX: TCN) ("Tricon" or the "Company"), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today its consolidated financial results for the three and nine months ended September 30, 2023. All financial information is presented in U.S. dollars unless otherwise indicated. The Company's operational and financial highlights of the quarter include: Net income fro.

Tricon Reports Q3 2023 Results as Strong Property Fundamentals Continue

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TORONTO--(BUSINESS WIRE)--Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company's financial results for the third quarter of 2023. The call will take place on Wednesday, November 8th at 11 a.m. ET. Tricon's financial statements and management's discussion an.

Tricon Announces Date for Third Quarter 2023 Results Conference Call

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Tricon Residential Inc. (NYSE:TCN ) Q2 2023 Earnings Conference Call August 9, 2023 11:00 AM ET Company Participants Wojtek Nowak – Managing Director-Capital Markets Gary Berman – President and Chief Executive Officer Wissam Francis – Chief Financial Officer Kevin Baldridge – Chief Operating Officer Conference Call Participants Eric Wolfe – Citi Handel St. Juste – Mizuho Brad Heffern – RBC Capital Markets Adam Kramer – Morgan Stanley Keegan Carl – Wolfe Research Jason Sabshon – KBW Jonathan Kelcher – TD Securities Operator Good morning. My name is Sara, and I will be your conference operator today.

Tricon Residential Inc. (TCN) Q2 2023 Earnings Call Transcript

TORONTO--(BUSINESS WIRE)--Tricon Residential Inc. (NYSE: TCN, TSX: TCN) ("Tricon" or the "Company"), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today its consolidated financial results for the six months ended June 30, 2023. All financial information is presented in U.S. dollars unless otherwise indicated. The Company reported strong operational and financial results in the second quarter, including the follow.

Tricon Reports Q2 2023 Results Driven by Strong Housing Fundamentals

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TORONTO--(BUSINESS WIRE)--Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, invites you to participate in its live conference call with senior management to discuss the Company's financial results for the second quarter of 2023. The call will take place on Wednesday, August 9th at 11 a.m. ET. Tricon's financial statements and management's discussion and.

Tricon Announces Date for Second Quarter 2023 Results Conference Call

The continued supply-demand imbalance in the housing market is expected to drive healthy rent growth for the next few quarters. Tricon has managed to keep a check on its debt with considerably lower maturities in the coming years. The vast market opportunity has been recognized by Tricon and its differentiated strategy of catering to middle-market households has helped immensely.

Tricon Residential Offers A Lot Of Value At Current Prices

TORONTO--(BUSINESS WIRE)--Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”), an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, announced today that it has priced its 2023-SFR1 securitization transaction. The transaction, involving the issuance and sale of 5 offered classes of fixed-rate certificates with a total face amount of $416.4 million, was priced at a weighted average yield of approximately 5.86%.

Tricon Prices $416 Million Securitization at Weighted Average Yield of 5.86%, Further Reducing Floating Rate Debt

NEW YORK--(BUSINESS WIRE)-- #KBRA--KBRA assigns preliminary ratings to five classes of Tricon Residential 2023-SFR1 (TCN 2023-SFR1) single-family rental pass-through certificates. TCN 2023-SFR1 is a single-borrower, single-family rental (SFR) securitization that will be collateralized by a $452.6 million loan secured by first priority mortgages on 2,116 income-producing single-family homes. The fixed-rate loan requires interest payments only over its five-year term. The subject transaction will be the.

KBRA Assigns Preliminary Ratings to Tricon Residential 2023-SFR1

TORONTO--(BUSINESS WIRE)--Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) , an owner and operator of single-family rental homes in the U.S. Sun Belt and multi-family rental apartments in Canada, is pleased to announce that it has received shareholder approval for all resolutions voted upon at its annual meeting of shareholders held virtually on June 21, 2023 (the “Meeting”). In particular, all nominees listed in the Company's information circular dated May 9, 2023 (the.

Tricon Announces Voting Results from Annual Meeting of Shareholders

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Over the past year, Tricon (-35.00%) has trailed both the general market (SPY: +4.33%) and the NASDAQ US Benchmark Residential REITS Index (-17.27%). This reflects the inverse convexity between interest rate hikes and residential property values and subsequent investor anxieties about Tricon.

Tricon Residential: Expected Growth Consistent With Housing Recovery Theme And Scale Expansion

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Tricon Residential Inc. (NYSE:TCN ) Q1 2023 Results Conference Call May 10, 2023 11:00 AM ET Company Participants Wojtek Nowak - Managing Director, Capital Markets Gary Berman - President and Chief Executive Officer Wissam Francis - Executive Vice President and Chief Financial Officer Kevin Baldridge - Chief Operating Officer Jonathan Ellenzweig - Chief Investment Officer Andy Carmody - Senior Managing Director Investments and Head of Sustainability Andrew Joyner - Managing Director Conference Call Participants Mario Saric - Scotia Bank Brad Heffern - RBC Capital Markets Handel St. Juste - Mizuho Eric Wolfe - Citi Keegan Carl - Wolfe Research Adam Kramer - Morgan Stanley Stephen MacLeod - BMO Capital Markets Jason Sabshon - KBW Operator Good morning. My name is Brent, and I will be your conference operator today.

Tricon Residential Inc. (TCN) Q1 2023 Earnings Call Transcript

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