Royal Bank of Canada Lowers Morguard (TSE:MRC) Price Target to C$195.00

Morguard (TSE:MRCGet Rating) had its target price decreased by analysts at Royal Bank of Canada from C$200.00 to C$195.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 64.04% from the stock’s current price.

Separately, CIBC upped their price target on shares of Morguard from C$175.00 to C$180.00 and gave the company an “outperform” rating in a report on Tuesday, March 1st.

TSE MRC traded down C$3.62 on Monday, hitting C$118.87. The stock had a trading volume of 2,719 shares, compared to its average volume of 3,239. The business’s fifty day moving average price is C$132.26 and its 200 day moving average price is C$133.54. The company has a debt-to-equity ratio of 150.83, a current ratio of 0.26 and a quick ratio of 0.22. Morguard has a 52-week low of C$118.50 and a 52-week high of C$158.01. The stock has a market cap of C$1.32 billion and a price-to-earnings ratio of 5.28.

Morguard (TSE:MRCGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The real estate investment trust reported C$10.40 earnings per share for the quarter. The company had revenue of C$272.68 million for the quarter. As a group, sell-side analysts anticipate that Morguard will post 14.3999985 EPS for the current year.

About Morguard (Get Rating)

Morguard Corporation, a real estate investment and management corporation, acquires, owns, and develops multi-suite residential, commercial, and hotel properties in Canada and the United States. As of February 25, 2022, the company owned a portfolio of 197 multi-suite residential, retail, office, industrial, and hotel properties, including 17,752 residential suites, approximately 16.8 million square feet of commercial leasable space, and 5,058 hotel rooms.

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