Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target Raised to C$24.00

Key Points

• TD raised its price target for Morguard North American Residential REIT from C$23.00 to C$24.00 and maintained a “buy” rating, implying 47.69% upside from the C$16.25 share price.
• Royal Bank of Canada cut its target from C$21.00 to C$20.00 with a “sector perform” rating. Overall, analyst coverage reflects a “Moderate Buy” consensus and a C$22.50 average price target.
• The REIT reported quarterly EPS of C$0.66 and revenue of C$87.21 million, while its shares remain near their 12-month low and the company carries a high debt-to-equity ratio of 95.54.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) had its target price hoisted by investment analysts at TD from C$23.00 to C$24.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price target would indicate a potential upside of 47.69% from the stock's current price.

Separately, Royal Bank Of Canada lowered their price target on Morguard North American Residential Real Estate Investment Trust from C$21.00 to C$20.00 and set a "sector perform" rating for the company in a research note on Thursday, April 30th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$22.50.

Morguard North American Residential Real Estate Investment Trust Trading Up 0.1%

Shares of Morguard North American Residential Real Estate Investment Trust stock traded up C$0.01 during trading on Friday, reaching C$16.25. 66,976 shares of the company were exchanged, compared to its average volume of 28,233. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. Morguard North American Residential Real Estate Investment Trust has a twelve month low of C$16.01 and a twelve month high of C$19.20. The business has a 50-day moving average price of C$16.86 and a 200-day moving average price of C$17.40. The firm has a market capitalization of C$847.73 million, a price-to-earnings ratio of 10.00 and a beta of 0.97.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported C$0.66 EPS for the quarter. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%.The business had revenue of C$87.21 million during the quarter. Sell-side analysts anticipate that Morguard North American Residential Real Estate Investment Trust will post 1.38795 EPS for the current fiscal year.

Morguard North American Residential Real Estate Investment Trust Company Profile

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.

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