Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares have recently traded above their 200-day moving average, currently at C$18.52, indicating a potential upward trend.
• Analysts have raised their price targets for MRG.UN, with TD Securities increasing their target from C$22.00 to C$23.00, and a consensus target price now set at C$22.50.
• Insider transactions show confidence in the company, with insiders purchasing nearly 49,000 shares worth approximately C$5.5 million over the last three months.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.60 and traded as high as C$18.73. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.52, with a volume of 78,633 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MRG.UN shares. Desjardins lifted their target price 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 lifted their target price 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 research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$22.50.

Morguard North American Residential Real Estate Investment Trust Stock Down 1.5%

The stock has a market cap of C$655.57 million, a PE ratio of 6.83 and a beta of 1.00. The business has a 50 day moving average price of C$18.37 and a 200 day moving average price of C$17.64. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54.

Insider Transactions at Morguard North American Residential Real Estate Investment Trust

In other Morguard North American Residential Real Estate Investment Trust news, insider Sime Armoyan purchased 43,630 shares of the stock in a transaction on Monday, June 9th. The shares were bought at an average price of C$113.43 per share, for a total transaction of C$4,949,055.61. Insiders purchased a total of 48,900 shares of company stock worth $5,545,837 in the last quarter. Corporate 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.