Morguard (MRC) Price Target Cut to C$200.00

Morguard (TSE:MRC) had its price target trimmed by Royal Bank of Canada from C$210.00 to C$200.00 in a report issued on Thursday morning. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

Shares of TSE MRC opened at C$169.82 on Thursday. Morguard has a 12-month low of C$163.70 and a 12-month high of C$197.50.

Morguard (TSE:MRC) last announced its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported C$9.73 earnings per share (EPS) for the quarter. Morguard had a net margin of 10.73% and a return on equity of 4.92%. The company had revenue of C$287.52 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Wednesday, March 14th.

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Morguard Company Profile

Morguard Corporation, a real estate investment and management corporation, acquires, owns, and develops real estate properties in Canada and the United States. As of February 23, 2018, the company owned a portfolio of 208 multi-suite residential, retail, office, industrial, and hotel properties that comprised 18,129 residential suits, approximately 16.3 million square feet of commercial leasable space, and 5,557 hotel rooms.

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