Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target Raised to C$22.00

Key Points

• Desjardins has increased its price target for Morguard North American Residential Real Estate Investment Trust from C$20.00 to C$22.00, indicating a potential upside of 21.21% from the previous close.
• TD Securities also raised their price target from C$22.00 to C$23.00 and assigned a "buy" rating on the stock.
• Insider activity remains strong with Sime Armoyan purchasing 43,630 shares at an average price of C$113.43 per share, signaling confidence in the company's future prospects.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Free Report) had its price objective hoisted by Desjardins from C$20.00 to C$22.00 in a research report report published on Friday morning,BayStreet.CA reports.

Separately, TD Securities boosted their price target on shares of 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 report on Friday.

Morguard North American Residential Real Estate Investment Trust Price Performance

Shares of TSE MRG.UN traded up C$0.06 during midday trading on Friday, reaching C$18.17. The company's stock had a trading volume of 9,670 shares, compared to its average volume of 38,202. 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 50 day moving average price of C$18.34 and a 200 day moving average price of C$17.42. Morguard North American Residential Real Estate Investment Trust has a one year low of C$14.88 and a one year high of C$19.53. The company has a market cap of C$675.02 million, a price-to-earnings ratio of 4.81 and a beta of 1.21.

Insiders Place Their Bets

In other Morguard North American Residential Real Estate Investment Trust news, insider Sime Armoyan acquired 500 shares of the company's stock in a transaction dated Friday, June 27th. The stock was bought at an average price of C$113.00 per share, for a total transaction of C$56,500.00. Over the last ninety days, insiders have acquired 50,200 shares of company stock valued at $5,568,197. 26.42% of the stock is owned by corporate insiders.

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.