Short Interest in Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) Declines By 29.6%

Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 254,600 shares, a decline 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 presently 106.1 days.

Wall Street Analysts Forecast Growth

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

Morguard North American Residential Real Estate Investment Trust Stock Performance

OTCMKTS MNARF remained flat at $12.19 on Friday. 1,000 shares of the company’s stock traded hands, compared to its average volume of 8,497. The stock’s fifty day moving average price is $11.55 and its 200-day moving average price is $12.56. Morguard North American Residential Real Estate Investment Trust has a twelve month low of $11.22 and a twelve month high of $14.16.

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.