Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Reaches New 1-Year High at $17.72

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) hit a new 52-week high during trading on Friday . The stock traded as high as C$17.72 and last traded at C$17.72, with a volume of 6367 shares changing hands. The stock had previously closed at C$17.41.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada cut their price target on shares of Morguard North American Residential Real Estate Investment Trust from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd.

Morguard North American Residential Real Estate Investment Trust Stock Performance

The firm has a market cap of C$659.41 million, a PE ratio of 4.70 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. The company has a 50-day simple moving average of C$16.28 and a two-hundred day simple moving average of C$15.87.

Insider Buying and Selling

In related news, insider Sime Armoyan acquired 300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of C$111.00 per share, for a total transaction of C$33,300.00. In the last ninety days, insiders have purchased 26,000 shares of company stock valued at $2,872,773. 25.99% of the stock is owned by insiders.

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.