Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Hits New 12-Month Low – What’s Next?

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$15.19 and last traded at C$15.19, with a volume of 5256 shares changing hands. The stock had previously closed at C$15.27.

Analysts Set New Price Targets

Separately, TD raised their price objective on Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$22.67.

Morguard North American Residential Real Estate Investment Trust Price Performance

The business has a fifty day moving average price of C$16.33 and a two-hundred day moving average price of C$16.88. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09. The firm has a market capitalization of C$796.61 million, a price-to-earnings ratio of 12.53 and a beta of 0.94.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.66 earnings per share (EPS) for the quarter. The company had revenue of C$87.21 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%. On average, equities analysts expect that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current 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.