Morguard North American Residential REIT (TSE:MRG.UN) Price Target Lowered to C$19.00 at Royal Bank of Canada

Morguard North American Residential REIT (TSE:MRG.UN) had its price target decreased by stock analysts at Royal Bank of Canada from C$20.00 to C$19.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 25.91% from the company’s previous close.

Separately, TD Securities lowered their price objective on shares of Morguard North American Residential REIT from C$23.00 to C$22.00 in a research report on Wednesday, April 24th.

Morguard North American Residential REIT Price Performance

Shares of Morguard North American Residential REIT stock traded up C$0.17 during mid-day trading on Thursday, reaching C$15.09. 24,134 shares of the stock were exchanged, compared to its average volume of 24,642. The company has a market cap of C$569.50 million, a price-to-earnings ratio of 3.23 and a beta of 1.18. The company has a current ratio of 0.19, a quick ratio of 0.09 and a debt-to-equity ratio of 92.78. The firm has a 50-day simple moving average of C$15.76 and a 200 day simple moving average of C$14.92. Morguard North American Residential REIT has a fifty-two week low of C$13.08 and a fifty-two week high of C$17.72.

Insider Transactions at Morguard North American Residential REIT

In other news, insider Sime Armoyan acquired 400 shares of Morguard North American Residential REIT stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of C$110.00 per share, with a total value of C$43,998.52. Insiders acquired a total of 6,000 shares of company stock worth $659,989 in the last quarter. 25.53% of the stock is owned by company insiders.

About Morguard North American Residential REIT

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.