Melcor Developments (TSE:MRD) Stock Passes Above 200-Day Moving Average of $12.62

Shares of Melcor Developments Ltd. (TSE:MRD) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.62 and traded as high as $12.63. Melcor Developments shares last traded at $12.55, with a volume of 2,762 shares traded.

Separately, Royal Bank of Canada lowered their target price on Melcor Developments from C$14.00 to C$13.50 and set a “sector perform” rating on the stock in a research note on Monday, November 11th.

The company has a market capitalization of $419.06 million and a PE ratio of 7.35. The company has a quick ratio of 0.63, a current ratio of 4.54 and a debt-to-equity ratio of 59.91. The firm has a 50-day moving average of C$12.31 and a two-hundred day moving average of C$12.62.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.12 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.48 annualized dividend and a yield of 3.82%. Melcor Developments’s payout ratio is 29.86%.

About Melcor Developments (TSE:MRD)

Melcor Developments Ltd. operates as a real estate development company in the United States and Canada. The company operates through Community Development, Property Development, Investment Property, REIT, and Recreational Property divisions. It develops, manages, and owns mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses.

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