Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Sets New 52-Week Low – Here’s Why

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) hit a new 52-week low on Monday . The company traded as low as C$15.93 and last traded at C$15.93, with a volume of 4474 shares trading hands. The stock had previously closed at C$15.99.

Wall Street Analysts Forecast Growth

Separately, TD lifted their target price 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 note on Friday, July 31st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$22.67.

Morguard North American Residential Real Estate Investment Trust Stock Down 0.4%

The company has a market capitalization of C$831.04 million, a PE ratio of 13.07 and a beta of 0.97. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. The firm has a 50-day moving average of C$16.61 and a two-hundred day moving average of C$17.10.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last issued its quarterly earnings data on Tuesday, July 28th. The company reported C$0.66 earnings per share (EPS) 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 firm had revenue of C$87.21 million for the quarter. Equities research analysts predict that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current fiscal year.

About Morguard North American Residential Real Estate Investment Trust

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.