Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Announces Quarterly Earnings Results

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) announced its earnings results on Tuesday. The company reported C$0.80 EPS for the quarter, FiscalAI reports. The firm had revenue of C$88.17 million for the quarter. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%.

Morguard North American Residential Real Estate Investment Trust Trading Up 0.9%

TSE MRG.UN opened at C$18.67 on Wednesday. Morguard North American Residential Real Estate Investment Trust has a one year low of C$14.88 and a one year high of C$19.20. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09. The business has a 50 day simple moving average of C$17.72 and a 200 day simple moving average of C$17.90. The stock has a market capitalization of C$973.70 million, a P/E ratio of 5.34 and a beta of 0.90.

Wall Street Analysts Forecast Growth

MRG.UN has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered Morguard North American Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$20.00 to C$21.00 in a research note on Friday, October 31st. TD Securities boosted their price target on shares of 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 report on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$22.33.

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.