Morguard (TSE:MRC) Reaches New 1-Year High - Here's What Happened

Key Points

• Morguard's shares hit a new 52-week high, trading as high as C$124.95 mid-day and last at C$121.30, up about 1.4% with a volume of 3,301 shares.
• The REIT reported C$5.48 EPS and C$270.46 million in revenue for the quarter, and currently trades at a P/E of 7.47 with a market cap of roughly C$1.30 billion.
• Insider Sime Armoyan bought 5,500 shares at C$115 (≈C$632,500) and corporate insiders collectively own 72.99% of the company's stock.

Morguard Co. (TSE:MRC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$124.95 and last traded at C$121.30, with a volume of 3301 shares changing hands. The stock had previously closed at C$120.26.

Morguard Trading Up 1.4%

The company has a 50-day simple moving average of C$116.53 and a 200 day simple moving average of C$116.14. The company has a debt-to-equity ratio of 38.17, a quick ratio of 0.13 and a current ratio of 0.21. The company has a market capitalization of C$1.30 billion, a P/E ratio of 7.47 and a beta of 0.14.

Morguard (TSE:MRC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported C$5.48 EPS for the quarter. The business had revenue of C$270.46 million during the quarter. Morguard had a return on equity of 3.99% and a net margin of 15.75%. Sell-side analysts expect that Morguard Co. will post 26.1506276 earnings per share for the current year.

Insider Activity at Morguard

In other news, insider Sime Armoyan bought 5,500 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average cost of C$115.00 per share, for a total transaction of C$632,500.00. Following the completion of the purchase, the insider owned 1,390,223 shares of the company's stock, valued at C$159,875,645. This trade represents a 0.40% increase in their position. Insiders acquired 6,000 shares of company stock valued at $689,875 in the last three months. Corporate insiders own 72.99% of the company's stock.

About Morguard

Morguard Corp is a real estate company that acquires, owns, and develops properties in Canada and the United States. The company operates through three business divisions: investments in real property, ownership in real estate investment trusts (including Morguard REIT and Morguard North American Residential REIT), and real estate advisory services and portfolio management. This advisory segment focuses on publicly traded equities and fixed-income securities for institutional clients and private investors.

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