TD Securities Increases Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Price Target to C$23.00

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) had its price target lifted by TD Securities from C$22.00 to C$23.00 in a research note released on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Morguard North American Residential Real Estate Investment Trust Stock Performance

Shares of TSE:MRG.UN opened at C$18.26 on Wednesday. The firm has a fifty day simple moving average of C$16.89 and a two-hundred day simple moving average of C$16.08. Morguard North American Residential Real Estate Investment Trust has a 52 week low of C$13.08 and a 52 week high of C$18.72. The company has a quick ratio of 0.09, a current ratio of 0.80 and a debt-to-equity ratio of 95.54. The stock has a market capitalization of C$678.36 million, a P/E ratio of 4.83 and a beta of 1.20.

Insider Buying and Selling

In related news, insider Sime Armoyan acquired 800 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of C$109.96 per share, for a total transaction of C$87,970.96. Over the last quarter, insiders purchased 20,500 shares of company stock worth $2,262,273. Corporate insiders own 26.05% 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.