Melcor Developments (TSE:MRD) Hits New 52-Week High - Should You Buy?

Key Points

• New 52-week high: Melcor Developments (TSE:MRD) reached C$18.50 (up ~1.6%) on Thursday, with about 15,691 shares traded.
• Attractive valuation and fundamentals: The stock trades at a P/E of 9.69 with a market cap of C$556M, posted quarterly EPS of C$1.05 and a net margin of 14.13%, and sits above its 50‑day (C$17.54) and 200‑day (C$16.02) moving averages.
• Dividend increase: Melcor raised its quarterly dividend to C$0.15 (annualized C$0.60), a ~3.2% yield with a payout ratio of about 25%.

Melcor Developments Ltd. (TSE:MRD - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$18.50 and last traded at C$18.50, with a volume of 15691 shares. The stock had previously closed at C$18.20.

Melcor Developments Trading Up 1.6%

The firm's 50 day moving average price is C$17.54 and its 200-day moving average price is C$16.02. The stock has a market cap of C$556.04 million, a P/E ratio of 9.69 and a beta of 0.40. The company has a debt-to-equity ratio of 43.27, a current ratio of 5.23 and a quick ratio of 2.65.

Melcor Developments (TSE:MRD - Get Free Report) last issued its quarterly earnings data on Tuesday, March 10th. The company reported C$1.05 earnings per share for the quarter. The company had revenue of C$187.12 million for the quarter. Melcor Developments had a net margin of 14.13% and a return on equity of 4.65%. As a group, equities research analysts forecast that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Melcor Developments's previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 20th. Melcor Developments's payout ratio is currently 25.13%.

About Melcor Developments

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.

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