Morguard North American Residential REIT (TSE:MRG.UN) Price Target Lowered to C$19.00 at Royal Bank of Canada

Morguard North American Residential REIT (TSE:MRG.UN) had its price target trimmed by Royal Bank of Canada from C$20.00 to C$19.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Separately, TD Securities lowered their target price on shares of Morguard North American Residential REIT from C$23.00 to C$22.00 in a report on Wednesday, April 24th.

Morguard North American Residential REIT Trading Up 1.8 %

MRG.UN opened at C$15.26 on Thursday. The company has a debt-to-equity ratio of 92.78, a current ratio of 0.19 and a quick ratio of 0.09. Morguard North American Residential REIT has a fifty-two week low of C$13.08 and a fifty-two week high of C$17.72. The firm has a market capitalization of C$575.91 million, a PE ratio of 3.27 and a beta of 1.18. The company’s 50-day moving average is C$15.72 and its 200 day moving average is C$14.91.

Insider Buying and Selling at Morguard North American Residential REIT

In other news, insider Sime Armoyan acquired 3,600 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average price of C$110.00 per share, for a total transaction of C$396,000.00. In the last 90 days, insiders bought 6,000 shares of company stock worth $659,989. Insiders own 25.53% of the company’s stock.

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.