Melcor Developments (TSE:MRD) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Melcor Developments Ltd.'s shares have recently surpassed their 200-day moving average, trading at C$14.98, indicating a potential bullish trend.
• The company increased its quarterly dividend to $0.13 per share, resulting in a dividend yield of 3.5% and reflecting a rise from the previous dividend of $0.11.
• Melcor Developments has a market capitalization of C$452.29 million and a relatively high payout ratio of 141.94%, suggesting a commitment to returning value to shareholders despite potential risks.

Melcor Developments Ltd. (TSE:MRD - )'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$13.72 and traded as high as C$14.98. Melcor Developments shares last traded at C$14.98, with a volume of 1,500 shares traded.

Melcor Developments Stock Up 1.3%

The company has a current ratio of 18.08, a quick ratio of 2.65 and a debt-to-equity ratio of 53.41. The stock has a 50 day simple moving average of C$14.92 and a 200 day simple moving average of C$13.72. The firm has a market capitalization of C$452.29 million, a PE ratio of 48.32 and a beta of 0.64.

Melcor Developments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.5%. This is a boost from Melcor Developments's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, September 15th. Melcor Developments's payout ratio is presently 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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