Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$17.08 and traded as high as C$18.56. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.42, with a volume of 15,860 shares changing hands.

Analyst Ratings Changes

Separately, TD Securities lifted 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 company a “buy” rating in a report on Wednesday, September 4th.

Morguard North American Residential Real Estate Investment Trust Stock Up 1.2 %

The stock has a market capitalization of C$684.30 million, a price-to-earnings ratio of 4.87 and a beta of 1.21. The business’s 50-day moving average is C$18.68 and its two-hundred day moving average is C$17.08. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54.

Insider Buying and Selling

In other news, insider Sime Armoyan bought 600 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were bought at an average cost of C$112.00 per share, for a total transaction of C$67,200.00. 26.42% of the stock is currently 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.