Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Reaches New 52-Week High at $17.72

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$17.72 and last traded at C$17.72, with a volume of 6367 shares traded. The stock had previously closed at C$17.41.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada cut their target price on Morguard North American Residential Real Estate Investment Trust from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd.

Morguard North American Residential Real Estate Investment Trust Price Performance

The firm has a market cap of C$659.41 million, a price-to-earnings ratio of 4.70 and a beta of 1.20. The company’s fifty day moving average is C$16.28 and its 200 day moving average is C$15.87. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54.

Insiders Place Their Bets

In related news, insider Sime Armoyan purchased 5,200 shares of Morguard North American Residential Real Estate Investment Trust stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of C$111.00 per share, with a total value of C$577,200.00. Insiders have acquired 26,000 shares of company stock valued at $2,872,773 in the last three months. 25.99% of the stock is currently owned by corporate insiders.

About Morguard North American Residential Real Estate Investment Trust

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.