Morguard Co. (TSE:MRC – Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$104.45 and traded as low as C$102.00. Morguard shares last traded at C$102.00, with a volume of 1,077 shares changing hands.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada raised their target price on Morguard from C$140.00 to C$145.00 and gave the company a “sector perform” rating in a report on Wednesday, August 9th.
Morguard Price Performance
Morguard (TSE:MRC – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported C$8.19 EPS for the quarter. Morguard had a negative return on equity of 6.71% and a negative net margin of 21.93%. The firm had revenue of C$306.02 million for the quarter. As a group, equities research analysts forecast that Morguard Co. will post 26.3974359 EPS for the current fiscal year.
Morguard Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.15 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.59%. Morguard’s payout ratio is currently -2.56%.
Morguard Company Profile
Morguard Corporation, a real estate investment and management company, engages in acquires, owns, and develops multi-suite residential, commercial, and hotel properties in Canada and the United States. The company offers real estate management services, including acquisitions, development, dispositions, leasing, performance measurement, and asset and property management; real estate investment advisory services; and investment products across equity, fixed income, and balanced portfolios to institutional clients and private investors.
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