Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target Raised to C$23.00

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) had its price objective increased by TD Securities from C$22.00 to C$23.00 in a report published on Wednesday, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Morguard North American Residential Real Estate Investment Trust Price Performance

Shares of Morguard North American Residential Real Estate Investment Trust stock opened at C$18.26 on Wednesday. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. Morguard North American Residential Real Estate Investment Trust has a 52 week low of C$13.08 and a 52 week high of C$18.72. The stock’s 50-day simple moving average is C$16.89 and its 200-day simple moving average is C$16.08. The company has a market capitalization of C$678.36 million, a price-to-earnings ratio of 4.83 and a beta of 1.20.

Insiders Place Their Bets

In related news, insider Sime Armoyan bought 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of C$109.96 per share, with a total value of C$87,970.96. Insiders acquired 20,500 shares of company stock worth $2,262,273 in the last three months. 26.05% of the stock is owned by company insiders.

Morguard North American Residential Real Estate Investment Trust 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.