Melcor Developments (TSE:MRD) Announces Earnings Results

Melcor Developments (TSE:MRD) announced its earnings results on Tuesday. The company reported C$0.59 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$60.42 million during the quarter. Melcor Developments had a net margin of 26.63% and a return on equity of 7.34%.

Melcor Developments Trading Up 1.4%

MRD stock opened at C$19.09 on Thursday. The stock has a 50-day moving average price of C$18.74 and a 200-day moving average price of C$18.16. Melcor Developments has a 1-year low of C$14.18 and a 1-year high of C$19.47. The firm has a market cap of C$572.11 million, a PE ratio of 6.36 and a beta of 0.44.

Melcor Developments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 15th. Melcor Developments’s dividend payout ratio (DPR) is presently 18.67%.

Insider Transactions at Melcor Developments

In related news, Director Ralph Barclay Young sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of C$17.50, for a total transaction of C$175,000.00. Following the completion of the sale, the director owned 90,000 shares of the company’s stock, valued at C$1,575,000. This trade represents a 10.00% decrease in their ownership of the stock. Also, Director Andrew John Melton bought 3,800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The shares were acquired at an average cost of C$18.58 per share, with a total value of C$70,604.00. Following the purchase, the director directly owned 61,800 shares of the company’s stock, valued at C$1,148,244. This trade represents a 6.55% increase in their ownership of the stock. 65.20% of the stock is owned by insiders.

About Melcor Developments

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado. Melcor has been focused on real estate since 1923.