Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Shares Cross 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 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$17.93 and traded as high as C$18.83. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.72, with a volume of 18,249 shares trading hands.

Wall Street Analyst Weigh In

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

Morguard North American Residential Real Estate Investment Trust Price Performance

The company’s 50-day moving average is C$18.04 and its 200-day moving average is C$17.93. The firm has a market cap of C$976.38 million, a price-to-earnings ratio of 9.48 and a beta of 0.90. The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last released its earnings results on Tuesday, February 10th. The company reported C$0.80 earnings per share for the quarter. The firm had revenue of C$88.17 million during the quarter. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%. Equities research analysts predict that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current year.

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.