Insider Buying: Morguard North American Residential REIT (TSE:MRG.UN) Insider Acquires 900 Shares of Stock

Morguard North American Residential REIT (TSE:MRG.UN) insider Sime Armoyan purchased 900 shares of the stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of C$110.00 per share, for a total transaction of C$99,000.00.

Sime Armoyan also recently made the following trade(s):

• On Monday, May 6th, Sime Armoyan acquired 2,100 shares of Morguard North American Residential REIT stock. The shares were purchased at an average price of C$110.00 per share, for a total transaction of C$231,000.00.
• On Monday, April 29th, Sime Armoyan acquired 1,300 shares of Morguard North American Residential REIT stock. The stock was bought at an average cost of C$110.00 per share, with a total value of C$143,000.00.
• On Thursday, April 25th, Sime Armoyan bought 100 shares of Morguard North American Residential REIT stock. The shares were acquired at an average price of C$110.00 per share, for a total transaction of C$11,000.00.
• On Tuesday, April 23rd, Sime Armoyan acquired 500 shares of Morguard North American Residential REIT stock. The stock was bought at an average cost of C$110.00 per share, for a total transaction of C$55,000.00.
• On Monday, April 15th, Sime Armoyan purchased 100 shares of Morguard North American Residential REIT stock. The shares were acquired at an average price of C$109.90 per share, for a total transaction of C$10,990.00.
• On Thursday, February 29th, Sime Armoyan purchased 400 shares of Morguard North American Residential REIT stock. The stock was bought at an average cost of C$110.00 per share, for a total transaction of C$43,998.52.
• On Friday, February 23rd, Sime Armoyan acquired 3,600 shares of Morguard North American Residential REIT stock. The stock was purchased at an average price of C$110.00 per share, for a total transaction of C$396,000.00.

Morguard North American Residential REIT Price Performance

Morguard North American Residential REIT stock traded up C$0.05 during midday trading on Thursday, hitting C$16.17. 40,806 shares of the company’s stock were exchanged, compared to its average volume of 25,993. The company has a debt-to-equity ratio of 92.48, a quick ratio of 0.09 and a current ratio of 0.15. 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 cap of C$608.15 million, a P/E ratio of 3.50 and a beta of 1.18. The stock has a 50-day moving average price of C$15.72 and a two-hundred day moving average price of C$14.93.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Morguard North American Residential REIT from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. TD Securities reduced their target price on shares of Morguard North American Residential REIT from C$23.00 to C$22.00 in a research note on Wednesday, April 24th.

Morguard North American Residential REIT 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.