Insider Buying: Morguard North American Residential REIT (TSE:MRG.UN) Director Acquires 100 Shares of Stock

Morguard North American Residential REIT (TSE:MRG.UN – Get Rating) Director Stephen Ronald Taylor bought 100 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of C$114.00 per share, with a total value of C$11,400.00. Following the completion of the acquisition, the director now owns 22,830 shares of the company’s stock, valued at approximately C$2,602,620.

TSE MRG.UN traded up C$0.36 during trading on Friday, reaching C$17.84. 25,911 shares of the company’s stock were exchanged, compared to its average volume of 42,496. The stock has a market cap of C$697.17 million and a P/E ratio of 1.85. The company has a debt-to-equity ratio of 97.57, a quick ratio of 0.12 and a current ratio of 0.76. The company has a 50 day moving average price of C$19.09 and a two-hundred day moving average price of C$18.49. Morguard North American Residential REIT has a 1 year low of C$15.89 and a 1 year high of C$20.52.

A number of research analysts recently issued reports on MRG.UN shares. CIBC lifted their target price on Morguard North American Residential REIT from C$22.00 to C$23.00 and gave the company an “outperform” rating in a report on Friday, February 18th. TD Securities lifted their price target on Morguard North American Residential REIT from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Friday, April 29th. Finally, Royal Bank of Canada lifted their price target on Morguard North American Residential REIT from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a report on Friday, April 29th.

Morguard North American Residential REIT Company Profile (Get Rating)

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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