TCNGF - Tricon Capital: Favorable Outlook In 2019
Investment Thesis
Tricon Capital Group (TCNGF) (TSX:TCN) saw solid growth in same property net operating income in Q4 2018. Looking forward, its SPNOI growth momentum should continue thanks to strong fundamentals in its key Sunbelt markets and in Toronto. This should also lead to net operating income margin expansion. The company pays a steadily increasing dividend and is currently trading at P/B ratio below its historical average. We believe Tricon is a good investment choice for investors with a long-term investment horizon.
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Recent Developments
In Q4 2018, Tricon