TD Issues Positive Forecast for Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price

Key Points

• TD raised its price target for Morguard North American Residential REIT from C$20.00 to C$21.00 and maintained a “buy” rating, implying approximately 45.7% upside from the prior close.
• The stock fell 0.6% to C$14.41, near its 52-week low of C$14.31, while trading below both its 50-day and 200-day moving averages.
• Morguard reported quarterly earnings of C$0.45 per share on C$88.89 million in revenue, with analysts expecting full-year earnings of C$1.39 per share.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) had its target price lifted by investment analysts at TD from C$20.00 to C$21.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. TD's price target would indicate a potential upside of 45.73% from the stock's previous close.

Morguard North American Residential Real Estate Investment Trust Stock Down 0.6%

Shares of TSE:MRG.UN traded down C$0.08 on Thursday, hitting C$14.41. 8,915 shares of the company traded hands, compared to its average volume of 27,794. Morguard North American Residential Real Estate Investment Trust has a 52 week low of C$14.31 and a 52 week high of C$19.05. The stock has a 50 day simple moving average of C$15.05 and a 200-day simple moving average of C$16.74. The company has a market cap of C$751.91 million, a PE ratio of 11.83 and a beta of 1.00. 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported C$0.45 earnings per share 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. As a group, research analysts expect that Morguard North American Residential Real Estate Investment Trust will post 1.39 earnings per share for the current year.

Morguard North American Residential Real Estate Investment Trust Company Profile

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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