Key Summary: On October 17, 2023, Land and Buildings Investment Management issued a presentation highlighting concerns about poor revenue management, excessive overhead costs, and weak alignment of interests. They expressed eagerness to collaborate with the Board and management to close the substantial discount to fair value, potentially unlocking approximately a 65% upside to real estate value.Market Cap: $2 billion| Tricon Residential Inc. (NYSE: TCN, TSX: TCN) is an owner and operator of a growing portfolio of approximately 37,000 single-family rental homes in the U.S. Sun Belt and multi-family apartments in Canada.
On October 17, 2023, Land and Buildings Investment Management issued a presentation expressing its concerns about poor revenue management, excessive overhead costs, and weak alignment of interests. Land and Buildings stated that it is excited to work with the Board and management to close the substantial discount to fair value, which it believes could unlock approximately a 65% upside to real estate value.
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