Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Price Crosses Above 200-Day Moving Average of $16.23

Posted by MarketBeat News on Sep 19th, 2024

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.23 and traded as high as C$19.38. Morguard North American Residential Real Estate Investment Trust shares last traded at C$19.02, with a volume of 28,810 shares traded.

Analyst Ratings Changes

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 stock a “buy” rating in a research note on Wednesday, September 4th.

Get Our Latest Stock Report on MRG.UN

Morguard North American Residential Real Estate Investment Trust Price Performance

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The firm has a 50 day moving average price of C$17.36 and a 200 day moving average price of C$16.23. The stock has a market cap of C$706.59 million, a P/E ratio of 5.03 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.

Insiders Place Their Bets

In other news, insider Sime Armoyan purchased 600 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average cost of C$112.00 per share, for a total transaction of C$67,200.00. In the last 90 days, insiders have bought 2,400 shares of company stock worth $265,723. Company insiders own 26.05% of the company’s stock.

About Morguard North American Residential Real Estate Investment Trust

(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.