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

Key Points

• Melcor Developments Ltd. shares reached a new 52-week high of C$15.45, closing last at C$15.33 with a trading volume of 2,186 shares.
• The company announced a quarterly dividend of $0.13 per share, effective September 29th, increasing from its previous dividend of $0.11.
• Melcor Developments is a real estate firm involved in mixed-use residential, commercial properties, and asset management, with a market capitalization of C$462.86 million.

Shares of Melcor Developments Ltd. (TSE:MRD - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$15.45 and last traded at C$15.33, with a volume of 2186 shares. The stock had previously closed at C$15.25.

Melcor Developments Stock Performance

The company has a quick ratio of 2.65, a current ratio of 18.08 and a debt-to-equity ratio of 53.41. The company has a market capitalization of C$461.35 million, a PE ratio of 49.29 and a beta of 0.64. The business has a 50 day simple moving average of C$14.60 and a 200 day simple moving average of C$13.43.

Melcor Developments Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, September 15th. This is a positive change from Melcor Developments's previous quarterly dividend of $0.11. Melcor Developments's dividend payout ratio (DPR) is presently 141.94%.

Melcor Developments Company Profile

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.