Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Given New C$23.00 Price Target at TD Securities

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) had its target price upped by TD Securities from C$22.00 to C$23.00 in a research report released on Wednesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Morguard North American Residential Real Estate Investment Trust Price Performance

MRG.UN stock opened at C$18.26 on Wednesday. The company’s 50-day moving average price is C$16.89 and its two-hundred day moving average price is C$16.08. The firm has a market cap of C$678.36 million, a P/E ratio of 4.83 and a beta of 1.20. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. Morguard North American Residential Real Estate Investment Trust has a 12 month low of C$13.08 and a 12 month high of C$18.72.

Insider Buying and Selling at Morguard North American Residential Real Estate Investment Trust

In other Morguard North American Residential Real Estate Investment Trust news, insider Sime Armoyan bought 4,600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of C$110.98 per share, for a total transaction of C$510,525.02. In the last quarter, insiders have acquired 21,100 shares of company stock valued at $2,329,473. 26.05% of the stock is currently owned by corporate insiders.

Morguard North American Residential Real Estate Investment Trust Company Profile

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.