Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) Sees Significant Decline in Short Interest

Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 254,600 shares, a drop of 29.6% from the February 28th total of 361,400 shares. Based on an average daily volume of 2,400 shares, the days-to-cover ratio is currently 106.1 days.

Morguard North American Residential Real Estate Investment Trust Price Performance

MNARF stock remained flat at $12.19 during midday trading on Tuesday. 1,000 shares of the company’s stock were exchanged, compared to its average volume of 8,497. The firm has a 50 day moving average price of $11.56 and a 200-day moving average price of $12.54. Morguard North American Residential Real Estate Investment Trust has a 1-year low of $11.22 and a 1-year high of $14.16.

Analyst Upgrades and Downgrades

Separately, Desjardins initiated coverage on shares of Morguard North American Residential Real Estate Investment Trust in a research note on Tuesday, February 4th. They issued a “buy” rating for the company.

About Morguard North American Residential Real Estate Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management.