Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Gets Price Target Cut from Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Morguard’s price target from C$19.00 to C$17.00 while maintaining a “sector perform” rating, implying 17.4% upside from the current price.
• TD raised its target to C$21.00 and kept a “buy” rating; overall, analysts assign the REIT a “Moderate Buy” consensus rating with a C$19.00 average target.
• The stock traded at C$14.48, near its 52-week low of C$14.31. The REIT reported quarterly EPS of C$0.45 on revenue of C$88.89 million.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) had its target price dropped by investment analysts at Royal Bank Of Canada from C$19.00 to C$17.00 in a report released on Friday, BayStreet reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 17.40% from the stock's current price.

Separately, TD increased their target price on 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$19.00.

Morguard North American Residential Real Estate Investment Trust Price Performance

TSE MRG.UN traded down C$0.07 during trading hours on Friday, reaching C$14.48. The company's stock had a trading volume of 16,276 shares, compared to its average volume of 27,816. 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 market cap of C$755.57 million, a PE ratio of 11.88 and a beta of 1.00. The company's 50-day moving average is C$15.02 and its two-hundred day moving average is 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.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported C$0.45 earnings per share (EPS) 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%. The firm had revenue of C$88.89 million during the quarter. Analysts forecast that Morguard North American Residential Real Estate Investment Trust will post 1.39 EPS 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.

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