Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Reaches New 52-Week Low – Here’s What Happened

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares reached a new 52-week low during trading on Monday. The stock traded as low as C$14.36 and last traded at C$14.40, with a volume of 5,485 shares changing hands. The stock had previously closed at C$14.49.

Wall Street Analyst Weigh In

Separately, TD upped their target price on shares of 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 research report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Morguard North American Residential Real Estate Investment Trust currently has an average rating of “Moderate Buy” and an average price target of C$22.67.

Morguard North American Residential Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 95.54, a quick ratio of 0.09 and a current ratio of 0.80. The firm has a fifty day simple moving average of C$15.33 and a 200 day simple moving average of C$16.36. The company has a market capitalization of C$749.83 million, a PE ratio of 11.79 and a beta of 1.00.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last announced its quarterly earnings results on Tuesday, July 28th. The company reported C$0.66 earnings per share for the quarter. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. The firm had revenue of C$87.21 million during the quarter. Equities analysts anticipate that Morguard North American Residential Real Estate Investment Trust will post 1.39 EPS for the current year.

Morguard North American Residential Real Estate Investment Trust Company Profile

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.