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

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) released its quarterly earnings results on Tuesday. The company reported C$0.45 earnings per share for the quarter, reports. The business had revenue of C$88.89 million for the quarter. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%.

Morguard North American Residential Real Estate Investment Trust Price Performance

Shares of MRG.UN stock opened at C$14.49 on Thursday. The business’s fifty day moving average is C$15.05 and its 200 day moving average is C$16.74. The stock has a market cap of C$756.09 million, a price-to-earnings ratio of 11.89 and a beta of 1.00. 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 twelve month low of C$14.31 and a twelve month high of C$19.05.

Analyst Ratings Changes

Separately, TD boosted their price objective on shares of Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the stock a “buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Morguard North American Residential Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$22.00.

About Morguard North American Residential Real Estate Investment Trust

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.