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

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

Morguard North American Residential REIT Stock Performance

Shares of MRG.UN stock opened at C$15.50 on Wednesday. Morguard North American Residential REIT has a one year low of C$13.08 and a one year high of C$17.72. The company’s 50-day moving average is C$15.80 and its 200 day moving average is C$14.91. The company has a market capitalization of C$584.97 million, a price-to-earnings ratio of 3.32 and a beta of 1.18. The company has a debt-to-equity ratio of 92.78, a quick ratio of 0.09 and a current ratio of 0.19.

Insider Activity at Morguard North American Residential REIT

In other news, insider Sime Armoyan acquired 400 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were bought at an average cost of C$110.00 per share, with a total value of C$43,998.52. In the last ninety days, insiders have bought 4,700 shares of company stock valued at $516,989. 25.53% of the stock is owned by insiders.

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.