Royal Bank Of Canada Cuts Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target to C$20.00

Key Points

• Royal Bank of Canada cut its price target for Morguard from C$21 to C$20 and kept a "sector perform" rating, while TD lowered its target to C$23 but stayed at "buy"; the consensus rating is "Moderate Buy" with a mean target of C$22.25.
• The stock traded at C$16.97, implying roughly an 18% upside to RBC's target, and the REIT shows a P/E of 8.6, market capitalization of C$885.16M and a high debt-to-equity ratio of 95.54%.
• Most recent quarter delivered EPS of C$0.80 on revenue of C$88.17M, with a net margin of 40.48% and return on equity of 6.98%.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) had its price target decreased by equities researchers at Royal Bank Of Canada from C$21.00 to C$20.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 17.86% from the stock's current price.

Separately, TD cut their price objective on shares of Morguard North American Residential Real Estate Investment Trust from C$24.00 to C$23.00 and set a "buy" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$22.25.

Morguard North American Residential Real Estate Investment Trust Trading Down 0.4%

TSE MRG.UN traded down C$0.06 during trading hours on Thursday, hitting C$16.97. The company's stock had a trading volume of 9,889 shares, compared to its average volume of 29,252. The stock has a fifty day moving average of C$17.60 and a 200 day moving average of C$17.64. Morguard North American Residential Real Estate Investment Trust has a twelve month low of C$16.31 and a twelve month high of C$19.20. The firm has a market capitalization of C$885.16 million, a P/E ratio of 8.60 and a beta of 0.91. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported C$0.80 earnings per share for the quarter. The business had revenue of C$88.17 million for the quarter. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. Equities research analysts forecast that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current fiscal year.

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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