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 (TSE:MRG.UN) has recently crossed above its 200-day moving average, trading at C$18.14 with a volume of over 11,500 shares.
• Analysts have revised their price targets with Desjardins raising it to C$22.00 and TD Securities to C$23.00, reflecting confidence in the stock's performance.
• The company has a market capitalization of C$636.62 million and operates primarily in multi-suite residential rental properties in both Canada and the United States.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$17.88 and traded as high as C$18.32. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.14, with a volume of 11,531 shares traded.

Analysts Set New Price Targets

Several research analysts have recently commented on MRG.UN shares. Desjardins boosted their price objective on Morguard North American Residential Real Estate Investment Trust from C$20.00 to C$22.00 in a report on Friday, August 1st. TD Securities boosted their price objective on Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00 and gave the stock a "buy" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Morguard North American Residential Real Estate Investment Trust currently has a consensus rating of "Buy" and an average target price of C$22.50.

Morguard North American Residential Real Estate Investment Trust Stock Performance

The stock has a market capitalization of C$636.62 million, a PE ratio of 6.63 and a beta of 1.01. The business has a 50 day moving average price of C$18.39 and a 200 day moving average price of C$17.88. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09.

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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