Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$16.96 and traded as high as C$18.40. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.32, with a volume of 12,592 shares trading hands.

Analysts Set New Price Targets

Separately, TD Securities upped their target price on Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

Morguard North American Residential Real Estate Investment Trust Trading Down 0.7 %

The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54. The stock has a market capitalization of C$675.76 million, a P/E ratio of 4.81 and a beta of 1.21. The business’s fifty day simple moving average is C$18.68 and its two-hundred day simple moving average is C$16.98.

Insider Activity

In other Morguard North American Residential Real Estate Investment Trust news, insider Sime Armoyan acquired 800 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of C$109.96 per share, for a total transaction of C$87,970.96. 26.42% of the stock is currently owned by company 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.