Melcor Developments (TSE:MRD) Reaches New 52-Week High - Time to Buy?

Key Points

• Melcor Developments Ltd. reached a new 52-week high of C$15.27, with its last trade at C$15.25 and a trading volume of 3,666 shares.
• The company announced a quarterly dividend of $0.11, resulting in an annualized dividend yield of 2.9%, despite a high dividend payout ratio of 141.94%.
• Melcor Developments has a strong quick ratio of 2.65 and a current ratio of 18.08, indicating solid liquidity and financial health.

Shares of Melcor Developments Ltd. (TSE:MRD - ) hit a new 52-week high on Wednesday . The company traded as high as C$15.27 and last traded at C$15.25, with a volume of 3666 shares trading hands. The stock had previously closed at C$15.10.

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 stock has a market capitalization of C$460.44 million, a PE ratio of 49.19 and a beta of 0.70. The firm has a 50 day moving average price of C$14.36 and a 200-day moving average price of C$13.29.

Melcor Developments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 16th. Melcor Developments's dividend payout ratio is 141.94%.

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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