Melcor Developments (TSE:MRD) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Melcor Developments Ltd. (TSE:MRD) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$13.94 and traded as high as C$14.62. Melcor Developments shares last traded at C$14.62, with a volume of 2,750 shares traded.

Melcor Developments Trading Down 0.9%

The company’s fifty day moving average price is C$15.06 and its two-hundred day moving average price is C$13.94. The company has a current ratio of 18.08, a quick ratio of 2.65 and a debt-to-equity ratio of 53.41. The firm has a market cap of C$441.42 million, a P/E ratio of 47.16 and a beta of 0.52.

Melcor Developments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, September 15th. This is a positive change from Melcor Developments’s previous quarterly dividend of $0.11. Melcor Developments’s payout ratio is currently 141.94%.

Insider Buying and Selling at Melcor Developments

In other news, Director Timothy Charles Melton bought 3,200 shares of the stock in a transaction dated Thursday, October 9th. The shares were acquired at an average price of C$15.01 per share, with a total value of C$48,032.00. Following the acquisition, 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. Insiders own 65.20% of the company’s stock.

About Melcor Developments

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.