Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Issues Quarterly Earnings Results

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) posted its earnings results on Tuesday. The company reported C$0.80 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$88.17 million during the quarter. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%.

Morguard North American Residential Real Estate Investment Trust Price Performance

Shares of TSE:MRG.UN traded up C$0.16 during trading on Tuesday, reaching C$18.67. 22,282 shares of the company’s stock traded hands, compared to its average volume of 29,777. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. Morguard North American Residential Real Estate Investment Trust has a fifty-two week low of C$14.88 and a fifty-two week high of C$19.20. The company has a 50-day simple moving average of C$17.69 and a 200-day simple moving average of C$17.89. The firm has a market cap of C$973.70 million, a PE ratio of 5.34 and a beta of 0.90.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MRG.UN. TD Securities boosted their price target on shares of Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada downgraded shares of Morguard North American Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from C$20.00 to C$21.00 in a research note on Friday, October 31st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Morguard North American Residential Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average target price of C$22.33.

Morguard North American Residential Real Estate Investment Trust Company Profile

Morguard North American Residential Real Estate Investment Trust is an open-end real estate investment trust. The REIT invests in multi-suite residential rental properties in Canada and the United States. The REIT operates into two reportable segments, Canada and the United States. The United States contributes to the vast majority of revenue.