Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) Stock Price Down 0.4% – Here’s What Happened

Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) dropped 0.4% on Thursday . The company traded as low as $13.77 and last traded at $13.77. Approximately 5,038 shares changed hands during trading, an increase of 65% from the average daily volume of 3,049 shares. The stock had previously closed at $13.8185.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Securities reaffirmed a “buy” rating on shares of Morguard North American Residential Real Estate Investment Trust in a research report on Wednesday, October 29th. Royal Bank Of Canada cut shares of Morguard North American Residential Real Estate Investment Trust to a “sector perform” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Morguard North American Residential Real Estate Investment Trust presently has an average rating of “Moderate Buy”.

Morguard North American Residential Real Estate Investment Trust Stock Performance

The company has a 50-day moving average of $13.17 and a 200-day moving average of $12.99.

About Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust (OTCMKTS: MNARF) is an open-ended real estate investment trust that owns and operates a diversified portfolio of multi-residential rental properties. Through its sponsor, Morguard Corporation, the trust focuses on acquiring, developing and managing apartment communities in key North American markets. Its asset mix spans mid-rise and high-rise buildings as well as purpose-built rental communities designed to serve a broad tenant base, from young professionals to families and seniors.

The trust leverages the property management and leasing capabilities of Morguard’s in-house team, providing services that include marketing, maintenance and tenant relations.