Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Reaches New 52-Week High Following Analyst Upgrade

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN)’s share price hit a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$22.00 to C$23.00. TD Securities currently has a buy rating on the stock. Morguard North American Residential Real Estate Investment Trust traded as high as C$18.72 and last traded at C$18.59, with a volume of 8882 shares changing hands. The stock had previously closed at C$18.49.

Insider Buying and Selling at Morguard North American Residential Real Estate Investment Trust

In other news, insider Sime Armoyan purchased 2,900 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of C$110.75 per share, for a total transaction of C$321,175.00. Insiders have purchased 20,500 shares of company stock valued at $2,262,273 in the last quarter. Corporate insiders own 26.05% of the company’s stock.

Morguard North American Residential Real Estate Investment Trust Trading Down 0.1 %

The business’s 50-day moving average is C$16.84 and its two-hundred day moving average is C$16.06. The stock has a market capitalization of C$686.53 million, a PE ratio of 4.89 and a beta of 1.20. 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 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.