Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target Cut to C$17.00 by Analysts at Royal Bank Of Canada

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) had its price objective cut by Royal Bank Of Canada from C$19.00 to C$17.00 in a report issued on Friday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s price target suggests a potential upside of 17.40% from the company’s previous close.

Separately, TD upped their target price on shares of Morguard North American Residential Real Estate Investment Trust from C$20.00 to C$21.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$19.00.

Morguard North American Residential Real Estate Investment Trust Stock Performance

MRG.UN stock traded down C$0.07 during midday trading on Friday, reaching C$14.48. The company had a trading volume of 16,276 shares, compared to its average volume of 27,816. The firm has a market capitalization of C$755.57 million, a PE ratio of 11.88 and a beta of 1.00. The stock has a 50 day moving average price of C$15.02 and a 200 day moving average price of C$16.73. Morguard North American Residential Real Estate Investment Trust has a fifty-two week low of C$14.31 and a fifty-two week high of C$19.05. 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 announced its quarterly earnings results on Tuesday, October 27th. The company reported C$0.45 earnings per share (EPS) for the quarter. The business had revenue of C$88.89 million for the quarter. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%. Analysts anticipate that Morguard North American Residential Real Estate Investment Trust will post 1.39 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.