Morguard North American Residential REIT (TSE:MRG.UN) Price Target Cut to C$19.00

Morguard North American Residential REIT (TSE:MRG.UN) had its price target decreased by stock analysts at Royal Bank of Canada from C$20.00 to C$19.00 in a research note issued on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 24.51% from the stock’s current price.

Separately, TD Securities reduced their price target on Morguard North American Residential REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th.

Morguard North American Residential REIT Trading Up 1.8 %

TSE MRG.UN opened at C$15.26 on Thursday. The business’s 50-day moving average price is C$15.72 and its two-hundred day moving average price is C$14.92. Morguard North American Residential REIT has a 12 month low of C$13.08 and a 12 month high of C$17.72. The firm has a market capitalization of C$575.91 million, a PE ratio of 3.27 and a beta of 1.18. The company has a current ratio of 0.19, a quick ratio of 0.09 and a debt-to-equity ratio of 92.78.

Insider Activity at Morguard North American Residential REIT

In other Morguard North American Residential REIT news, insider Sime Armoyan bought 3,600 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were bought at an average price of C$110.00 per share, for a total transaction of C$396,000.00. Insiders have acquired a total of 6,000 shares of company stock worth $659,989 in the last 90 days. Corporate insiders own 25.53% of the company’s stock.

Morguard North American Residential REIT Company Profile

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management.