Melcor Developments (TSE:MRD) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Melcor Developments Ltd. stock crossed above its 200-day moving average, trading as high as C$15.30, signaling potential upward momentum.
• The company recently increased its quarterly dividend to $0.13 from $0.11, providing shareholders with a yield of 3.4%.
• Melcor has a market cap of C$460.44 million and a price-to-earnings ratio of 49.19, highlighting its valuation in the market.

Melcor Developments Ltd. (TSE:MRD - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$13.47 and traded as high as C$15.30. Melcor Developments shares last traded at C$15.25, with a volume of 2,367 shares traded.

Melcor Developments Trading Up 0.4%

The firm has a market cap of C$462.25 million, a PE ratio of 49.39 and a beta of 0.64. 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 company has a 50-day simple moving average of C$14.73 and a 200 day simple moving average of C$13.53.

Melcor Developments Increases Dividend

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