Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Shares Down 1% – Here’s What Happened

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) traded down 1% on Thursday . The company traded as low as C$18.00 and last traded at C$18.04. 21,289 shares were traded during trading, a decline of 24% from the average session volume of 28,059 shares. The stock had previously closed at C$18.22.

Wall Street Analyst Weigh In

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 note on Wednesday, September 4th.

Morguard North American Residential Real Estate Investment Trust Price Performance

The firm’s 50 day simple moving average is C$18.43 and its two-hundred day simple moving average is C$17.43. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09. The firm has a market capitalization of C$664.99 million, a P/E ratio of 4.74 and a beta of 1.21.

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.