Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.87 and traded as high as C$18.99. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.20, with a volume of 48,160 shares changing hands.

Analyst Ratings Changes

Separately, TD Securities boosted their target price on Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th.

Morguard North American Residential Real Estate Investment Trust Trading Down 2.8 %

The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. The company has a 50-day moving average price of C$18.68 and a 200-day moving average price of C$16.89. The company has a market capitalization of C$659.41 million, a price-to-earnings ratio of 4.70 and a beta of 1.21.

Insiders Place Their Bets

In related news, insider Sime Armoyan purchased 800 shares of Morguard North American Residential Real Estate Investment Trust stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of C$109.96 per share, with a total value of C$87,970.96. Company insiders own 26.42% of the company’s stock.

About Morguard North American Residential Real Estate Investment Trust

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.