Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.74 and traded as high as C$18.58. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.55, with a volume of 5,998 shares.

Analysts Set New Price Targets

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

Morguard North American Residential Real Estate Investment Trust Price Performance

The stock has a market cap of C$704.74 million, a price-to-earnings ratio of 4.88 and a beta of 1.21. The company has a 50 day simple moving average of C$18.52 and a 200-day simple moving average of C$16.77. The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54.

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

In related news, insider Sime Armoyan purchased 600 shares of Morguard North American Residential Real Estate Investment Trust stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of C$112.00 per share, with a total value of C$67,200.00. In the last three months, insiders have acquired 1,600 shares of company stock worth $177,371. Insiders own 26.42% of the company’s stock.

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.