Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.91 and traded as high as C$18.28. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.24, with a volume of 12,573 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MRG.UN shares. TD Securities increased their price objective on Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada downgraded shares of Morguard North American Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and raised their target price for the company from C$20.00 to C$21.00 in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$22.33.

Morguard North American Residential Real Estate Investment Trust Price Performance

The firm has a market capitalization of C$952.15 million, a price-to-earnings ratio of 5.21 and a beta of 0.98. The stock’s fifty day moving average price is C$17.35 and its two-hundred day moving average price is C$17.91. The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54.

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.