Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$17.91 and traded as high as C$18.94. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.61, with a volume of 48,249 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MRG.UN shares. Royal Bank Of Canada lowered Morguard North American Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$20.00 to C$21.00 in a research note on Friday, October 31st. TD Securities boosted their price target on Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Morguard North American Residential Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$22.33.

Morguard North American Residential Real Estate Investment Trust Stock Down 1.3%

The firm’s 50 day moving average is C$17.80 and its 200-day moving average is C$17.91. The firm has a market cap of C$970.57 million, a PE ratio of 9.43 and a beta of 0.90. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last released its earnings results on Tuesday, February 10th. The company reported C$0.80 EPS for the quarter. The firm had revenue of C$88.17 million during the quarter. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. As a group, equities research analysts expect that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current fiscal year.

About Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust is an open-end real estate investment trust. The REIT invests in multi-suite residential rental properties in Canada and the United States. The REIT operates into two reportable segments, Canada and the United States. The United States contributes to the vast majority of revenue.