Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Reaches New 12-Month Low - Should You Sell?

Key Points

• Morguard North American Residential REIT fell to a new 52-week low of C$16.01, below its 50-day and 200-day moving averages, before closing near C$16.04.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of C$22.67, implying substantial upside from the recent price.
• The REIT reported quarterly EPS of C$0.66 on revenue of C$87.21 million, while its high debt-to-equity ratio of 95.54 and weak quick ratio of 0.09 highlight financial risks.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report)'s stock price hit a new 52-week low on Monday . The stock traded as low as C$16.01 and last traded at C$16.04, with a volume of 15166 shares trading hands. The stock had previously closed at C$16.12.

Analysts Set New Price Targets

Several analysts have recently issued reports on MRG.UN shares. TD upped their target price on shares of Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Royal Bank Of Canada cut their price target on shares of Morguard North American Residential Real Estate Investment Trust from C$21.00 to C$20.00 and set a "sector perform" rating on the stock in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Morguard North American Residential Real Estate Investment Trust presently has a consensus rating of "Moderate Buy" and a consensus target price of C$22.67.

Morguard North American Residential Real Estate Investment Trust Price Performance

The stock has a fifty day moving average of C$16.70 and a 200 day moving average of C$17.18. The firm has a market capitalization of C$840.95 million, a P/E ratio of 13.23 and a beta of 0.97. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The company reported C$0.66 earnings per share (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 firm had revenue of C$87.21 million during the quarter. On average, research analysts anticipate that Morguard North American Residential Real Estate Investment Trust will post 1.38795 EPS for the current fiscal year.

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.

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