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Tricon Residential Inc - TCN STOCK NEWS

Welcome to our dedicated page for Tricon Residential news (Ticker: TCN), a resource for investors and traders seeking the latest updates and insights on Tricon Residential stock.

Tricon Residential Inc (TCN) provides investors and stakeholders with timely updates through this comprehensive news hub. Track official announcements, strategic initiatives, and market developments from one of North America's leading residential real estate investors.

This resource consolidates all essential updates including earnings reports, portfolio expansions, and operational milestones. Users gain access to verified information about TCN's single-family rentals, multi-family developments, and asset management activities – critical for informed analysis of the company's performance.

The curated collection features press releases on land acquisitions, housing community management updates, and private fund developments. Stay informed about TCN's dual revenue streams from direct investments and advisory services without needing to track multiple sources.

Bookmark this page for direct access to primary-source updates on Tricon Residential's business operations. Check regularly for new developments in manufactured housing communities, homebuilding projects, and other core aspects of their $1.3 billion asset portfolio.

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Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust, Inc. have completed the privatization of Tricon Residential Inc. for a total equity transaction value of $3.5 billion. Tricon remains committed to developing new single-family homes and apartments in the U.S. and Canada, with plans to invest $1 billion in capital projects. The partnership aims to enhance the quality of existing homes and provide affordable housing. The transaction involves a cash offer of $11.25 per Common Share. Blackstone will maintain an 11.6% ownership stake post-closing. The Common Shares are expected to be de-listed from NYSE and TSX on May 2, 2024, with Tricon ceasing to be a reporting issuer. Detailed information on the Transaction is available in the Circular and on SEDAR+ and SEC websites.

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Tricon Residential Inc. announces the receipt of Investment Canada Act approval for the take-private transaction by Blackstone Real Estate. The deal involves Blackstone acquiring all outstanding common shares of Tricon for US$11.25 per share in cash. The transaction has already received clearance under the Competition Act and shareholder approval, with a final court order in place. The deal is expected to be completed by May 1, 2024, leading to the delisting of Tricon's shares from NYSE and TSX.
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Tricon Residential Inc. (NYSE: TCN, TSX: TCN) announced a final order approving its acquisition by Blackstone Real Estate Partners X for US$11.25 per Common Share in cash. The Transaction is subject to customary closing conditions and regulatory approval under the Investment Canada Act, expected to be completed in the second quarter of this year.
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Tricon Residential Inc. shareholders have approved a plan for Blackstone Real Estate Partners X to acquire all outstanding common shares for US$11.25 per share. The transaction is expected to be completed in the second quarter of this year, leading to the delisting of the Common Shares from NYSE and TSX.
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Tricon Residential Inc. releases its annual sustainability report showcasing commitment to resident satisfaction, employee wellbeing, and environmental stewardship. The report highlights key accomplishments such as investing in employee training, achieving pay equity, credit builder and down payment assistance programs for residents, and environmental initiatives.
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Tricon Residential Inc. (NYSE: TCN, TSX: TCN) announced its financial results for Q4 2023, reporting a net loss of $35.5 million, Core FFO of $45.7 million, and same home NOI growth of 6.2%. The company also disclosed an arrangement agreement with Blackstone for a full acquisition.
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Tricon Residential Inc. announces a special meeting for the acquisition by Blackstone Real Estate Partners X at a premium price of $11.25 per Common Share, representing a 30% premium to the closing price on NYSE. The Board recommends FOR vote at the Special Meeting on March 28, 2024.
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Tricon Residential Inc. (NYSE: TCN, TSX: TCN) announced the release of its financial results for Q4 2023 on February 27th, 2024. The company will not hold a conference call, and the financial statements will be available on the company's website and regulatory websites.
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Blackstone and Tricon Residential Inc. have entered into an arrangement agreement under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. will acquire all outstanding common shares of Tricon for $11.25 per Common Share in cash. The transaction represents a premium of 30% to Tricon’s closing share price on the NYSE on January 18, 2024, and a 42% premium to the volume weighted average share price on the NYSE over the previous 90 days, equating to a $3.5 billion equity transaction value based on fully-diluted shares outstanding. The acquisition aims to propel Tricon’s efforts to add housing supply across the U.S. and in Toronto, Canada.
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Tricon Residential Inc. (NYSE: TCN, TSX: TCN) announced its Q3 2023 financial results, with net income from continuing operations decreasing by $97.7 million year-over-year, and diluted earnings per share from continuing operations decreasing to $0.18 compared to $0.49 per share in Q3 2022. Core FFO was $42.7 million and Core FFO per share was $0.14 in Q3 2023, a decrease of 7.9% and 6.7% year-over-year, respectively. Same home NOI growth for the single-family rental portfolio in Q3 2023 was 6.0% year-over-year. The company acquired 410 homes during the quarter at an average price of $310,000 per home for a total acquisition cost of $127 million. Tricon's proportionate share was $102 million. Positive rent trends continued into the fourth quarter, with same home rent growth of 6.8% in October 2023.
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NYSE:TCN

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3.07B
264.29M
3.12%
78.64%
1.67%
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