Timbercreek Financial (TSE:TF) Reaches New 12-Month Low on Analyst Downgrade

Timbercreek Financial Corp. (TSE:TF) hit a new 52-week low during mid-day trading on Tuesday after TD Securities lowered their price target on the stock from C$8.00 to C$7.00. TD Securities currently has a hold rating on the stock. Timbercreek Financial traded as low as C$6.48 and last traded at C$6.48, with a volume of 110005 shares traded. The stock had previously closed at C$6.62.

Timbercreek Financial Trading Down 2.0 %

The firm has a market capitalization of C$535.56 million, a P/E ratio of 9.11 and a beta of 1.23. The business’s 50 day moving average is C$6.94 and its two-hundred day moving average is C$7.50. The company has a quick ratio of 145.00, a current ratio of 1.53 and a debt-to-equity ratio of 122.88.

Timbercreek Financial Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 14th will be paid a $0.0575 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.69 annualized dividend and a dividend yield of 10.63%. Timbercreek Financial’s dividend payout ratio is currently 96.90%.

About Timbercreek Financial

Timbercreek Financial Corp. provides shorter-duration structured financing solutions to commercial real estate investors in Canada. It focuses on lending against income-producing real estate properties, such as multi-residential, office, and retail buildings in urban markets. The company was founded in 2016 and is headquartered in Toronto, Canada.