Bridgemarq Real Estate Services (TSE:BRE) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Bridgemarq Real Estate Services shares have crossed above their 200-day moving average at C$14.63, peaking at C$14.84 during trading.
• The stock received a downgrade from Cormark, shifting from a "moderate buy" to a "hold" rating, with a current average target price of C$18.00.
• Bridgemarq announced a monthly dividend of $0.1125 per share, yielding approximately 9.2%, with the dividend payout ratio currently at -64.29%.

Bridgemarq Real Estate Services Inc. (TSE:BRE - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$14.63 and traded as high as C$14.84. Bridgemarq Real Estate Services shares last traded at C$14.69, with a volume of 12,342 shares trading hands.

Wall Street Analyst Weigh In

Separately, Cormark cut Bridgemarq Real Estate Services from a "moderate buy" rating to a "hold" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of C$18.00.

Bridgemarq Real Estate Services Stock Performance

The company has a debt-to-equity ratio of -127.66, a quick ratio of 3.06 and a current ratio of 0.40. The firm has a fifty day moving average price of C$15.05 and a 200 day moving average price of C$14.63. The stock has a market cap of C$139.32 million, a PE ratio of -7.00 and a beta of 0.66.

Bridgemarq Real Estate Services Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 31st will be given a $0.1125 dividend. This represents a c) annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Monday, September 29th. Bridgemarq Real Estate Services's dividend payout ratio is presently -64.29%.

About Bridgemarq Real Estate Services

Bridgemarq Real Estate Services Inc is a Canada-based real estate services company. Its segment includes providing information and services to real estate agents and brokers in Canada through a portfolio of real estate services brands. It supplies realtors with information, tools, and services to assist them in providing and delivery of real estate sales services.

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