Melcor Developments (TSE:MRD) Stock Passes Above 200 Day Moving Average - Here's Why

Key Points

• Melcor Developments Ltd. stock has recently crossed above its 200-day moving average, currently trading at C$15.26.
• The company has announced an increase in its quarterly dividend from $0.11 to $0.13, with a 3.4% yield projected for the annualized dividend.
• Melcor has a market cap of C$460.75 million and a P/E ratio of 49.23, indicating its current valuation in the real estate market.

Melcor Developments Ltd. (TSE:MRD - ) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$13.60 and traded as high as C$15.54. Melcor Developments shares last traded at C$15.26, with a volume of 3,110 shares changing hands.

Melcor Developments Trading Down 0.5%

The company has a 50-day moving average price of C$14.81 and a two-hundred day moving average price of C$13.60. The stock has a market cap of C$460.75 million, a P/E ratio of 49.23 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.

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 given a $0.13 dividend. This is a boost from Melcor Developments's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.52 annualized dividend and a yield of 3.4%. Melcor Developments's dividend payout ratio is currently 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.

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