Morguard North American Residential REIT (TSE:MRG.UN) PT Raised to C$21.00 at TD Securities

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Morguard North American Residential REIT (TSE:MRG.UN) had its target price lifted by TD Securities from C$20.00 to C$21.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. TD Securities currently has a hold rating on the stock.

Several other brokerages have also weighed in on MRG.UN. Laurentian lifted their price objective on Morguard North American Residential REIT from C$21.00 to C$22.50 in a report on Friday. Royal Bank of Canada lifted their price objective on Morguard North American Residential REIT from C$19.00 to C$21.00 and gave the stock a sector perform rating in a report on Thursday, August 1st. Echelon Wealth Partners reissued a buy rating and issued a C$21.00 price objective on shares of Morguard North American Residential REIT in a report on Thursday, August 1st. Finally, CIBC lifted their price objective on Morguard North American Residential REIT from C$19.00 to C$19.50 in a report on Friday, May 3rd.

Shares of MRG.UN opened at C$20.41 on Friday. The business has a 50-day moving average price of C$19.13. Morguard North American Residential REIT has a fifty-two week low of C$15.65 and a fifty-two week high of C$20.73. The stock has a market cap of $688.44 million and a price-to-earnings ratio of 4.00. The company has a current ratio of 0.24, a quick ratio of 0.14 and a debt-to-equity ratio of 149.01.

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.

See Also: Outstanding Shares and The Effect on Share Price

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