Melcor Developments (TSE:MRD) Hits New 52-Week High - What's Next?

Key Points

• Melcor Developments hit a new 52-week high of C$18.42 (last C$18.37) on Wednesday, with about 11,966 shares traded.
• The company raised its quarterly dividend to $0.15 (annualized $0.60), a 3.3% yield; the ex-dividend date is March 20 and the payment date is March 31.
• Valuation and recent results show a market cap of C$548.8M and a PE of 9.55; last quarter EPS was C$1.05 on C$187.12M revenue with a 14.13% net margin, and analysts expect roughly 2.36 EPS for the year.

Melcor Developments Ltd. (TSE:MRD - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$18.42 and last traded at C$18.37, with a volume of 11966 shares trading hands. The stock had previously closed at C$18.10.

Melcor Developments Stock Performance

The firm's 50 day moving average price is C$16.83 and its two-hundred day moving average price is C$15.69. The firm has a market cap of C$548.83 million, a PE ratio of 9.55 and a beta of 0.63.

Melcor Developments (TSE:MRD - Get Free Report) last released its quarterly earnings results on Tuesday, March 10th. The company reported C$1.05 EPS for the quarter. The firm 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%. On average, analysts forecast that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be paid a $0.15 dividend. This is a boost from Melcor Developments's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.60 annualized dividend and a dividend yield of 3.3%. Melcor Developments's dividend 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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