Laurentian Raises Morguard North American Residential REIT (TSE:MRG.UN) Price Target to C$22.50

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Morguard North American Residential REIT (TSE:MRG.UN) had its target price hoisted by Laurentian from C$21.00 to C$22.50 in a report released on Friday morning, BayStreet.CA reports.

Several other equities analysts also recently commented on MRG.UN. CIBC upped their price objective on shares of Morguard North American Residential REIT from C$19.00 to C$19.50 in a report on Friday, May 3rd. Royal Bank of Canada upped their price objective on shares of Morguard North American Residential REIT from C$19.00 to C$21.00 and gave the company a sector perform rating in a report on Thursday, August 1st. Finally, Echelon Wealth Partners reiterated 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.

TSE:MRG.UN opened at C$20.41 on Friday. Morguard North American Residential REIT has a one year low of C$15.65 and a one year high of C$20.73. The firm has a market capitalization of $688.44 million and a P/E ratio of 4.00. The company has a fifty day moving average of C$19.13. The company has a debt-to-equity ratio of 149.01, a quick ratio of 0.14 and a current ratio of 0.24.

About Morguard North American Residential REIT

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.

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