Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price Expected to Rise, TD Securities Analyst Says

Key Points

• TD Securities has raised the price target for Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00, suggesting a potential upside of 26.72% from the previous close.
• The company's stock recently traded at C$18.15, showing a trading volume of 5,368 shares, significantly lower than its average of 38,172 shares.
• Insider ownership stands at 26.42%, with notable recent purchases, including 50,200 shares acquired by insiders over the past 90 days.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) had its price target increased by equities research analysts at TD Securities from C$22.00 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD Securities' price objective suggests a potential upside of 26.93% from the company's current price.

Morguard North American Residential Real Estate Investment Trust Stock Down 0.3%

TSE:MRG.UN traded down C$0.05 during mid-day trading on Friday, reaching C$18.12. The stock had a trading volume of 2,086 shares, compared to its average volume of 37,956. The business's 50 day moving average is C$18.35 and its 200 day moving average is C$17.44. Morguard North American Residential Real Estate Investment Trust has a fifty-two week low of C$14.88 and a fifty-two week high of C$19.53. The stock has a market cap of C$673.16 million, a P/E ratio of 4.79 and a beta of 1.21. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09.

Insider Activity

In other news, insider Sime Armoyan acquired 43,630 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average cost of C$113.43 per share, for a total transaction of C$4,949,055.61. Insiders acquired 50,200 shares of company stock worth $5,568,197 over the last three months. 26.42% of the stock is currently owned by company insiders.

About Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust is an open-end real estate investment trust. The REIT invests in multi-suite residential rental properties in Canada and the United States. The REIT operates into two reportable segments, Canada and the United States. The United States contributes to the vast majority of revenue.