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Tricon Residential Inc. (T:TCN)

Business Focus: Residential Real Estate Rental & Development

Sector:  Real Estate Industry:  Real Estate Rental, Development & Operations
 
Company Contact
Address: 7 ST. THOMAS STREET, SUITE 801
TORONTO ON M5S 2B7
Tel: N/A
Website: https://www.triconresidential.com
IR: See website
Key People
David Berman
Executive Chairman of the Board, Co-Founder
Thomas Walsh
General Counsel, Property Operations
Gary Berman
President, Chief Executive Officer, Director
Geoff Matus
Co-Founder, Non-Independent Director
Wissam Francis
Chief Financial Officer, Executive Vice President
Kevin Baldridge
Chief Operating Officer, Executive Vice President
Sherrie Suski
Chief People Officer, Executive Vice President
David Veneziano
Executive Vice President, Chief Legal Officer
Sandra Pereira
Senior Vice President, Head of Tax Services
Gina McMullan
Chief Accounting Officer
   
Business Overview
Tricon Residential Inc. is an owner, operator, and developer of a portfolio of approximately 38,000 single-family rental homes in the United States Sun Belt and multi-family apartments in Canada. The Company provides rental housing options for families across the United States and Canada through its technology-enabled operating platform and on-the-ground operating teams. The Company's segments include Single-Family Rental, Adjacent Businesses, and Strategic Capital. The Single-Family Rental business includes owning and operating single-family rental homes primarily within major cities in the United States Sun Belt. Its Adjacent Businesses include multi-family rental and residential development. Its multi-family rental business segment includes one Class A high-rise property in downtown Toronto known as The Selby. Through its Strategic Capital business, the Company provides asset management, property management and development management services.
Financial Overview
For the fiscal year ended 31 December 2023, Tricon Residential Inc revenues increased 5% to $849.8M. Net income before extraordinary items decreased 85% to $114.2M. Revenues reflect Single-Family Rental segment increase of 23% to $795.3M. Net income was offset by Fair value gain on rental properties decrease of 75% to $210.9M (income). Dividend per share remained flat at $0.23.
Employees: 978 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $12,111M as of Dec 31, 2023
Annual revenue (TTM): $1,153M as of Dec 31, 2023
EBITDA (TTM): $368.00M as of Dec 31, 2023
Net annual income (TTM): $154.92M as of Dec 31, 2023
Free cash flow (TTM): -$5.93M as of Dec 31, 2023
Net Debt Last Fiscal Year: $7,963M as of Dec 31, 2023
Shares outstanding: 273,550,977 as of Mar 1, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization