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

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

Morguard North American Residential Real Estate Investment Trust Price Performance

Morguard North American Residential Real Estate Investment Trust stock opened at C$18.49 on Wednesday. The stock has a market capitalization of C$686.90 million, a P/E ratio of 4.89 and a beta of 1.20. The company’s fifty day moving average price is C$16.78 and its 200 day moving average price is C$16.04. The company has a debt-to-equity ratio of 95.54, a quick ratio of 0.09 and a current ratio of 0.80. Morguard North American Residential Real Estate Investment Trust has a 1 year low of C$13.08 and a 1 year high of C$18.66.

Insiders Place Their Bets

In related news, insider Sime Armoyan purchased 4,600 shares of Morguard North American Residential Real Estate Investment Trust stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average price of C$110.98 per share, for a total transaction of C$510,525.02. Insiders have acquired 20,500 shares of company stock valued at $2,262,273 in the last ninety days. 26.05% of the stock is currently owned by corporate insiders.

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.