Royal Bank of Canada Trims Morguard North American Residential REIT (TSE:MRG.UN) Target Price to C$19.00

Morguard North American Residential REIT (TSE:MRG.UN) had its target price cut by equities researchers at Royal Bank of Canada from C$20.00 to C$19.00 in a research report issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.51% from the stock’s previous close.

Separately, TD Securities dropped their target price on shares of Morguard North American Residential REIT from C$23.00 to C$22.00 in a report on Wednesday, April 24th.

Morguard North American Residential REIT Trading Up 1.8 %

Shares of Morguard North American Residential REIT stock opened at C$15.26 on Thursday. The company has a market capitalization of C$575.91 million, a P/E ratio of 3.27 and a beta of 1.18. The company has a debt-to-equity ratio of 92.78, a quick ratio of 0.09 and a current ratio of 0.19. The company has a fifty day moving average of C$15.72 and a 200 day moving average of C$14.92. Morguard North American Residential REIT has a fifty-two week low of C$13.08 and a fifty-two week high of C$17.72.

Insider Buying and Selling at Morguard North American Residential REIT

In related news, insider Sime Armoyan acquired 400 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of C$110.00 per share, with a total value of C$43,998.52. Insiders purchased 6,000 shares of company stock valued at $659,989 in the last 90 days. 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.