TD Securities Cuts Morguard North American Residential REIT (TSE:MRG.UN) Price Target to C$22.00

Morguard North American Residential REIT (TSE:MRG.UN) had its price objective dropped by analysts at TD Securities from C$23.00 to C$22.00 in a research note issued on Wednesday, BayStreet.CA reports. TD Securities’ target price points to a potential upside of 41.84% from the company’s previous close.

Morguard North American Residential REIT Stock Down 0.3 %

MRG.UN traded down C$0.04 during trading on Wednesday, hitting C$15.51. 8,900 shares of the company’s stock traded hands, compared to its average volume of 22,402. The stock has a market capitalization of C$585.35 million, a price-to-earnings ratio of 3.32 and a beta of 1.18. The company’s 50 day simple moving average is C$15.79 and its two-hundred day simple moving average is C$14.90. Morguard North American Residential REIT has a 12-month low of C$13.08 and a 12-month high of C$17.72. The company has a current ratio of 0.19, a quick ratio of 0.09 and a debt-to-equity ratio of 92.78.

Insider Buying and Selling

In other news, insider Sime Armoyan acquired 3,600 shares of Morguard North American Residential REIT stock in a transaction that occurred on Friday, February 23rd. The stock was bought at an average price of C$110.00 per share, for a total transaction of C$396,000.00. In the last ninety days, insiders acquired 4,600 shares of company stock worth $505,989. 25.53% of the stock is owned by corporate 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.