Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) Stock Falls 7% – Here’s What Happened

Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) traded down 7% on Thursday. The stock traded as low as $10.44 and last traded at $10.44. 940 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 3,346 shares. The stock had previously closed at $11.22.

Wall Street Analyst Weigh In

Separately, TD Securities reiterated a “buy” rating on shares of Morguard North American Residential Real Estate Investment Trust in a research report on Friday, July 31st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Morguard North American Residential Real Estate Investment Trust currently has a consensus rating of “Moderate Buy”.

Morguard North American Residential Real Estate Investment Trust Stock Performance

The company has a 50-day moving average of $11.77 and a 200-day moving average of $12.17.

About Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust is a Canadian real estate investment trust focused on owning, acquiring and managing income-producing residential properties. The trust’s portfolio is centered on multi-family rental communities, including apartment buildings and other residential properties.

The REIT serves residential tenants in Canada and the United States. Its activities include property management, leasing, maintenance and capital improvements, with the goal of generating stable rental income and supporting the long-term value of its residential real estate portfolio.

Morguard North American Residential REIT was established in 2012 and is externally managed by Morguard Corporation, a Canadian real estate company.