Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Passes Above 200-Day Moving Average - What's Next?

Key Points

• Morguard North American Residential Real Estate Investment Trust shares surpassed their 200-day moving average during trading, reaching a price of C$18.08 before closing at C$17.83.
• Analysts have raised their price targets for the company, with Desjardins increasing it from C$20.00 to C$22.00 and TD Securities from C$22.00 to C$23.00, both maintaining a "buy" rating.
• Insiders have purchased a significant amount of stock, with 50,200 shares acquired over the last ninety days, indicating strong confidence in the company’s future performance.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.48 and traded as high as C$18.08. Morguard North American Residential Real Estate Investment Trust shares last traded at C$17.83, with a volume of 6,495 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Securities raised their price objective on Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Desjardins raised their price objective on Morguard North American Residential Real Estate Investment Trust from C$20.00 to C$22.00 in a research note on Friday, August 1st.

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

The stock's fifty day moving average is C$18.29 and its two-hundred day moving average is C$17.49. The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54. The company has a market capitalization of C$669.07 million, a PE ratio of 4.76 and a beta of 1.21.

Insider Buying and Selling at Morguard North American Residential Real Estate Investment Trust

In related news, insider Sime Armoyan purchased 43,630 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were bought at an average cost of C$113.43 per share, with a total value of C$4,949,055.61. Over the last quarter, insiders have bought 50,200 shares of company stock valued at $5,568,197. 26.42% of the stock is currently owned by insiders.

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.