TD Lowers Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target to C$23.00

Key Points

• TD lowered its price target for Morguard North American Residential REIT to C$23.00 (from C$24.00) but kept a "buy" rating; the new target implies roughly a 35.06% upside from the prior close.
• Shares traded at C$17.03 mid-day and sit well below the analyst target (1‑year range C$16.31–C$19.20) with 50- and 200-day moving averages around C$17.63, reflecting current market weakness versus the projected upside.
• The REIT displays high leverage with a debt-to-equity of 95.54, a market cap of C$888.28M and a P/E of 8.63; recent quarterly EPS was C$0.80 and analysts expect about 1.39 EPS for the year.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) had its price objective cut by investment analysts at TD from C$24.00 to C$23.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD's price objective points to a potential upside of 35.06% from the company's previous close.

Morguard North American Residential Real Estate Investment Trust Price Performance

Shares of MRG.UN traded down C$0.45 during mid-day trading on Wednesday, reaching C$17.03. The company had a trading volume of 53,078 shares, compared to its average volume of 29,399. The company's 50 day simple moving average is C$17.63 and its 200 day simple moving average is C$17.64. Morguard North American Residential Real Estate Investment Trust has a 1-year low of C$16.31 and a 1-year high of C$19.20. The company has a debt-to-equity ratio of 95.54, a quick ratio of 0.09 and a current ratio of 0.80. The company has a market capitalization of C$888.28 million, a price-to-earnings ratio of 8.63 and a beta of 0.91.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported C$0.80 earnings per share 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%. The company had revenue of C$88.17 million for the quarter. Analysts expect that Morguard North American Residential Real Estate Investment Trust will post 1.38795 EPS for the current year.

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.

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