Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$17.92 and traded as high as C$18.28. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.19, with a volume of 30,873 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MRG.UN. TD Securities increased their price objective on Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada lowered Morguard North American Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$20.00 to C$21.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Morguard North American Residential Real Estate Investment Trust has an average rating of “Moderate Buy” and a consensus target price of C$22.33.

Morguard North American Residential Real Estate Investment Trust Stock Performance

The stock’s 50-day moving average is C$17.21 and its 200 day moving average is C$17.92. The stock has a market cap of C$950.06 million, a price-to-earnings ratio of 5.20 and a beta of 0.98. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09.

About Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust is an open-end real estate investment trust. The REIT invests in multi-suite residential rental properties in Canada and the United States. The REIT operates into two reportable segments, Canada and the United States. The United States contributes to the vast majority of revenue.