Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Shares Pass Above 200 Day Moving Average – Time to Sell?

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.87 and traded as high as C$18.99. Morguard North American Residential Real Estate Investment Trust shares last traded at C$18.20, with a volume of 48,160 shares changing hands.

Wall Street Analyst Weigh In

Separately, TD Securities raised their target price on shares of Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

Morguard North American Residential Real Estate Investment Trust Price Performance

The stock has a 50-day moving average of C$18.68 and a two-hundred day moving average of C$16.89. The firm has a market cap of C$659.41 million, a price-to-earnings ratio of 4.70 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54.

Insider Buying and Selling

In related news, insider Sime Armoyan purchased 600 shares of Morguard North American Residential Real Estate Investment Trust stock in a transaction dated Thursday, September 5th. The stock was acquired at an average cost of C$112.00 per share, with a total value of C$67,200.00. Company insiders own 26.42% of the company’s stock.

About Morguard North American Residential Real Estate Investment Trust

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.