Morguard North American Residential REIT (TSE:MRG.UN) Price Target Lowered to C$22.00 at TD Securities

Morguard North American Residential REIT (TSE:MRG.UN) had its price target reduced by analysts at TD Securities from C$23.00 to C$22.00 in a research note issued on Wednesday, BayStreet.CA reports. TD Securities’ price objective suggests a potential upside of 41.84% from the company’s current price.

Morguard North American Residential REIT Stock Down 0.3 %

Shares of TSE:MRG.UN traded down C$0.04 during trading hours on Wednesday, hitting C$15.51. The company’s stock had a trading volume of 8,900 shares, compared to its average volume of 22,402. The firm’s fifty day moving average price is C$15.79 and its 200 day moving average price is C$14.90. Morguard North American Residential REIT has a 52 week low of C$13.08 and a 52 week high of C$17.72. The company has a market capitalization of C$585.35 million, a price-to-earnings ratio of 3.32 and a beta of 1.18. The company has a debt-to-equity ratio of 92.78, a current ratio of 0.19 and a quick ratio of 0.09.

Insider Buying and Selling

In related news, insider Sime Armoyan bought 400 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of C$110.00 per share, with a total value of C$43,998.52. Insiders acquired 4,600 shares of company stock valued at $505,989 over the last 90 days. Corporate insiders own 25.53% of the company’s stock.

About Morguard North American Residential REIT

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.