Morguard Real Estate Inv. (TSE:MRT.UN) Price Target Raised to C$6.50 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target on Morguard Real Estate Inv. from C$6.00 to C$6.50 and kept a "sector perform" rating, implying roughly a 0.15% downside from the prior close.
• Shares traded at C$6.51 with light volume and moving averages near C$6.54 (50-day) and C$6.31 (200-day); the company has a C$433.6M market cap, an elevated P/E of 325.5 and heavy leverage (debt-to-equity 135.58), indicating limited upside and higher risk.
• Latest quarter reported C$0.09 EPS and C$60.05M revenue but showed a negative ROE (-10.91%) and net margin (-41.19%); Morguard is a closed-end REIT focused on Retail, Office and Industrial properties with most revenue from Retail.

Morguard Real Estate Inv. (TSE:MRT.UN - Get Free Report) had its target price hoisted by stock analysts at Royal Bank Of Canada from C$6.00 to C$6.50 in a report released on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential downside of 0.15% from the company's previous close.

Morguard Real Estate Inv. Price Performance

TSE MRT.UN traded down C$0.03 on Monday, reaching C$6.51. 3,297 shares of the stock traded hands, compared to its average volume of 9,194. The firm's fifty day simple moving average is C$6.54 and its 200 day simple moving average is C$6.31. The company has a quick ratio of 0.04, a current ratio of 0.08 and a debt-to-equity ratio of 135.58. The company has a market cap of C$433.58 million, a price-to-earnings ratio of 325.50 and a beta of 0.02. Morguard Real Estate Inv. has a 12 month low of C$5.50 and a 12 month high of C$6.99.

Morguard Real Estate Inv. (TSE:MRT.UN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported C$0.09 earnings per share (EPS) for the quarter. The firm had revenue of C$60.05 million during the quarter. Morguard Real Estate Inv. had a negative return on equity of 10.91% and a negative net margin of 41.19%. As a group, research analysts predict that Morguard Real Estate Inv. will post 0.780083 EPS for the current fiscal year.

Morguard Real Estate Inv. Company Profile

Morguard Real Estate Investment Trust is a closed-end trust that owns, manages, and invests in a diversified real estate portfolio of commercial properties across Canada. The company has three reportable segments namely Retail, Office, and Industrial. It generates maximum revenue from the Retail segment.

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