Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• The stock of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) recently crossed above its 200-day moving average at C$17.44, indicating potential positive momentum.
• Analysts have raised their price targets for MRG.UN, with TD Securities increasing it from C$22.00 to C$23.00 and Desjardins from C$20.00 to C$22.00, both maintaining a "buy" rating.
• Insiders have shown confidence in the company's prospects, purchasing over 50,200 shares valued at approximately C$5.56 million in the last quarter.

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$17.44 and traded as high as C$18.17. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.17, with a volume of 9,670 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on MRG.UN shares. Desjardins lifted their price target 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. TD Securities boosted their target price 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.

Morguard North American Residential Real Estate Investment Trust Price Performance

The firm has a market cap of C$671.30 million, a P/E ratio of 4.78 and a beta of 1.21. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. The business's 50 day moving average is C$18.34 and its two-hundred day moving average is C$17.45.

Insider Buying and Selling

In other Morguard North American Residential Real Estate Investment Trust news, insider Sime Armoyan bought 500 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was bought at an average cost of C$113.00 per share, with a total value of C$56,500.00. Over the last three months, insiders bought 50,200 shares of company stock valued at $5,568,197. Insiders own 26.42% of the company's stock.

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.