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

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) released its quarterly earnings data on Tuesday. The company reported C$0.45 EPS for the quarter, reports. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. The business had revenue of C$88.89 million during the quarter.

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

TSE:MRG.UN 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. The company has a market capitalization of C$758.18 million, a P/E ratio of 11.93 and a beta of 1.00. Morguard North American Residential Real Estate Investment Trust has a 12 month low of C$14.31 and a 12 month high of C$19.05. The company has a debt-to-equity ratio of 95.54, a quick ratio of 0.09 and a current ratio of 0.80. The stock has a 50 day moving average price of C$15.12 and a two-hundred day moving average price of C$16.78.

Wall Street Analyst Weigh In

Separately, TD boosted their target price 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.