TCN - Tricon Capital reports Q1 results

Tricon Capital press release (NYSE:TCN): Q1 Core FFO of $0.14 per share Net income from continuing operations of $0.59 per share. Revenue of $94.56M (+21.4% Y/Y). Same home Net Operating Income for the single-family rental portfolio grew by 11.6% Y/Y and same home NOI margin increased by 0.7% to 67.8%. Same home occupancy increased by 0.7% Y/Y to a record-high of 98.0%, same home turnover hit a record low of 14.7% and blended rent growth was 8.7%.  Outlook: 2022 Core FFO to range between $0.60 - $0.64 per share; Same Home revenue growth of 7.5% to 9.5%; and Same home NOI growth of 7.5% to 9.5%.

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Tricon Capital reports Q1 results