Morguard North American Residential REIT (TSE:MRG.UN) Price Target Lowered to C$19.00 at Royal Bank of Canada

Morguard North American Residential REIT (TSE:MRG.UN) had its target price cut by Royal Bank of Canada from C$20.00 to C$19.00 in a report released on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Separately, TD Securities reduced their price target on shares of Morguard North American Residential REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th.

Morguard North American Residential REIT Price Performance

Shares of TSE MRG.UN opened at C$15.26 on Thursday. The company has a current ratio of 0.15, a quick ratio of 0.09 and a debt-to-equity ratio of 92.48. The company has a market capitalization of C$573.93 million, a price-to-earnings ratio of 3.32 and a beta of 1.18. Morguard North American Residential REIT has a twelve month low of C$13.08 and a twelve month high of C$17.72. The business has a 50 day simple moving average of C$15.72 and a 200-day simple moving average of C$14.91.

Insider Activity

In other Morguard North American Residential REIT news, insider Sime Armoyan bought 400 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average cost of C$110.00 per share, for a total transaction of C$43,998.52. Over the last 90 days, insiders have acquired 6,000 shares of company stock valued at $659,989. Insiders own 25.66% of the company’s stock.

About Morguard North American Residential REIT

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.