Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Sets New 1-Year Low - What's Next?

Key Points

• Morguard North American Residential REIT shares fell to a new 52-week low, reaching C$16.11 before closing the session near C$16.15, below its prior close of C$16.65.
• Analyst sentiment remains generally positive despite lower targets: TD maintained a “buy” rating, RBC rated the stock “sector perform,” and the consensus view is “Moderate Buy” with an average price target of C$22.25.
• The REIT reported quarterly revenue of C$87.21 million and earnings of C$0.66 per share, with a 40.48% net margin; however, its high debt-to-equity ratio of 95.54 highlights a significant leverage risk.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$16.11 and last traded at C$16.15, with a volume of 14180 shares traded. The stock had previously closed at C$16.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD lowered their price target on Morguard North American Residential Real Estate Investment Trust from C$24.00 to C$23.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Royal Bank Of Canada cut their price objective 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 report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$22.25.

Morguard North American Residential Real Estate Investment Trust Price Performance

The firm has a market capitalization of C$841.47 million, a P/E ratio of 9.93 and a beta of 0.97. The business's 50-day simple moving average is C$16.88 and its 200 day simple moving average is C$17.43. 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 (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 for the quarter. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. The firm had revenue of C$87.21 million during the quarter. Sell-side analysts forecast that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current 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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