Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price Crosses Above 200 Day Moving Average of $16.38

Posted by MarketBeat News on Sep 28th, 2024

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN – Get Free Report)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$16.38 and traded as high as C$19.43. Morguard North American Residential Real Estate Investment Trust shares last traded at C$19.19, with a volume of 32,009 shares traded.

Analysts Set New Price Targets

Separately, TD Securities upped their price objective on shares of 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.

Check Out Our Latest Report on Morguard North American Residential Real Estate Investment Trust

Morguard North American Residential Real Estate Investment Trust Stock Down 0.8 %

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The stock has a market capitalization of C$705.11 million, a price-to-earnings ratio of 5.02 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 business’s 50-day moving average is C$17.81 and its two-hundred day moving average is C$16.40.

Insider Activity

In other news, insider Sime Armoyan bought 400 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were bought at an average cost of C$110.50 per share, for a total transaction of C$44,200.00. In the last quarter, insiders have bought 2,400 shares of company stock valued at $265,723. 26.05% of the stock is currently owned by insiders.

Morguard North American Residential Real Estate Investment Trust Company Profile

(Get Free Report)

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.