Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Issues Earnings Results

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) issued its earnings results on Tuesday. The company reported C$0.70 EPS for the quarter, FiscalAI reports. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%. The business had revenue of C$88.89 million during the quarter.

Morguard North American Residential Real Estate Investment Trust Stock Up 0.5%

Shares of Morguard North American Residential Real Estate Investment Trust stock traded up C$0.07 during trading hours on Tuesday, reaching C$14.53. The company’s stock had a trading volume of 72,929 shares, compared to its average volume of 27,886. Morguard North American Residential Real Estate Investment Trust has a one year low of C$14.31 and a one year high of C$19.05. The company has a market capitalization of C$758.18 million, a P/E ratio of 11.93 and a beta of 1.00. The stock’s fifty day simple moving average is C$15.12 and its two-hundred day simple moving average is C$16.78. The company has a debt-to-equity ratio of 95.54, a quick ratio of 0.09 and a current ratio of 0.80.

Analysts Set New Price Targets

Separately, TD increased 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 Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$22.67.

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.