TD Securities Cuts Morguard North American Residential REIT (TSE:MRG.UN) Price Target to C$22.00

Morguard North American Residential REIT (TSE:MRG.UN - Free Report) had its price target lowered by TD Securities from C$23.00 to C$22.00 in a research report released on Wednesday, BayStreet.CA reports.

Morguard North American Residential REIT Stock Performance

Shares of TSE MRG.UN traded up C$0.04 during mid-day trading on Wednesday, hitting C$15.59. 18,336 shares of the company were exchanged, compared to its average volume of 22,529. The stock has a 50 day simple moving average of C$15.79 and a 200-day simple moving average of C$14.90. Morguard North American Residential REIT has a 1-year low of C$13.08 and a 1-year high of C$17.72. The company has a quick ratio of 0.09, a current ratio of 0.19 and a debt-to-equity ratio of 92.78. The firm has a market cap of C$588.37 million, a price-to-earnings ratio of 3.34 and a beta of 1.18.

Insider Buying and Selling

In other Morguard North American Residential REIT news, insider Sime Armoyan purchased 500 shares of Morguard North American Residential REIT stock in a transaction dated Tuesday, April 23rd. The stock was acquired at an average cost of C$110.00 per share, with a total value of C$55,000.00. Insiders bought 4,600 shares of company stock valued at $505,989 over the last ninety days. Corporate insiders own 25.53% of the company's stock.

Morguard North American Residential REIT Company Profile

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management.