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

Morguard North American Residential REIT (TSE:MRG.UN) had its target price lowered by equities researchers at TD Securities from C$23.00 to C$22.00 in a research report issued on Wednesday, BayStreet.CA reports. TD Securities’ target price would suggest a potential upside of 41.48% from the company’s previous close.

Morguard North American Residential REIT Trading Down 0.3 %

Shares of TSE MRG.UN opened at C$15.55 on Wednesday. The stock has a market cap of C$586.86 million, a price-to-earnings ratio of 3.33 and a beta of 1.18. The business has a 50 day simple moving average of C$15.81 and a 200 day simple moving average of C$14.91. 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 debt-to-equity ratio of 92.78, a quick ratio of 0.09 and a current ratio of 0.19.

Insider Activity at Morguard North American Residential REIT

In related news, insider Sime Armoyan bought 400 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of C$110.00 per share, with a total value of C$43,998.52. In the last quarter, insiders bought 4,600 shares of company stock valued at $505,989. 25.53% of the stock is owned by corporate insiders.

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.