5 Most Profitable New Stocks Today

4. Tricon Residential Inc. (NYSE:TCN)

Trailing Twelve Month Net Income: $886 million

Number of Hedge Fund Holders in Q3 2022: 13

Tricon Residential Inc. (NYSE:TCN) is a Canadian rental company based in Toronto. The firm offers single and multi family rental homes across the U.S. and Canada.

Tricon Residential Inc. (NYSE:TCN) is the first single family renter in the U.S. that operates under what it calls a Bill of Rights. This includes giving tenants the right to purchase their home if the firm decides to sell it, among others. 13 of the 920 hedge funds polled by Insider Monkey in Q3 2022 had held a stake in the firm.

As of Q4 2022, Tricon Residential Inc. (NYSE:TCN)’s largest investor is Dimitry Balyasny’s Balyasny Asset Management which owns 2.8 million shares that are worth $22 million.