Melcor Developments (TSE:MRD) Reaches New 1-Year High – Should You Buy?

Shares of Melcor Developments Ltd. (TSE:MRD) reached a new 52-week high during trading on Monday . The stock traded as high as C$18.28 and last traded at C$18.05, with a volume of 3884 shares. The stock had previously closed at C$18.15.

Melcor Developments Trading Up 1.5%

The company has a market capitalization of C$554.63 million, a PE ratio of 9.59 and a beta of 0.63. The firm’s 50-day simple moving average is C$16.42 and its 200-day simple moving average is C$15.54.

Melcor Developments (TSE:MRD) last posted its quarterly earnings results on Tuesday, March 10th. The company reported C$1.05 earnings per share for the quarter. The firm had revenue of C$187.12 million during the quarter. Melcor Developments had a net margin of 14.13% and a return on equity of 4.65%. As a group, analysts anticipate that Melcor Developments Ltd. will post 2.3613596 EPS for the current year.

Melcor Developments Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a $0.15 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. This is a positive change from Melcor Developments’s previous quarterly dividend of $0.13. Melcor Developments’s dividend payout ratio (DPR) is currently 23.96%.

Melcor Developments Company Profile

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.