Melcor Developments (TSE:MRD) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Melcor Developments Ltd. (TSE:MRD) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$14.46 and traded as high as C$15.19. Melcor Developments shares last traded at C$15.05, with a volume of 14,792 shares changing hands.

Melcor Developments Stock Down 0.3%

The company has a debt-to-equity ratio of 53.41, a current ratio of 18.08 and a quick ratio of 2.65. The business’s 50 day moving average price is C$14.86 and its 200 day moving average price is C$14.46. The firm has a market cap of C$453.16 million, a PE ratio of 7.84 and a beta of 0.57.

Melcor Developments (TSE:MRD) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.46 earnings per share for the quarter. Melcor Developments had a net margin of 3.77% and a return on equity of 0.94%. The firm had revenue of C$72.54 million for the quarter. On average, equities research analysts expect that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a $0.13 dividend. This is a boost from Melcor Developments’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, September 15th. Melcor Developments’s dividend payout ratio is presently 23.96%.

Insider Buying and Selling

In other news, Director Timothy Charles Melton acquired 3,200 shares of Melcor Developments stock in a transaction that occurred on Thursday, October 9th. The stock was purchased at an average cost of C$15.01 per share, with a total value of C$48,032.00. Following the purchase, the director owned 2,300,494 shares in the company, valued at C$34,530,414.94. This trade represents a 0.14% increase in their ownership of the stock. Corporate insiders own 65.20% of the company’s stock.

Melcor Developments Company Profile

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.