Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Posted by Logan Wallace on Nov 8th, 2024

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN – Get Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.96 and traded as high as C$18.40. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.32, with a volume of 12,592 shares traded.

Analyst Ratings Changes

Separately, TD Securities raised their price objective on shares of 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.

Get Our Latest Report on Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust Trading Up 2.1 %

The business has a 50 day simple moving average of C$18.68 and a 200-day simple moving average of C$16.96. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09. The stock has a market capitalization of C$680.59 million, a price-to-earnings ratio of 4.85 and a beta of 1.21.

Insider Transactions at Morguard North American Residential Real Estate Investment Trust

In other Morguard North American Residential Real Estate Investment Trust news, insider Sime Armoyan bought 600 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of C$112.00 per share, with a total value of C$67,200.00. Company insiders own 26.42% of the company’s stock.

About Morguard North American Residential Real Estate Investment Trust

(Get Free Report)

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.