Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.48 and traded as low as C$16.74. Morguard North American Residential Real Estate Investment Trust shares last traded at C$16.75, with a volume of 26,836 shares trading hands.

Wall Street Analysts Forecast Growth

MRG.UN has been the subject of several analyst reports. Royal Bank Of Canada reduced their target price on shares of Morguard North American Residential Real Estate Investment Trust from C$21.00 to C$20.00 and set a “sector perform” rating for the company in a report on Thursday, April 30th. TD reduced their price objective on shares of Morguard North American Residential Real Estate Investment Trust from C$24.00 to C$23.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$22.25.

Morguard North American Residential Real Estate Investment Trust Trading Down 0.9%

The company has a debt-to-equity ratio of 95.54, a quick ratio of 0.09 and a current ratio of 0.80. The company has a market capitalization of C$873.81 million, a PE ratio of 10.31 and a beta of 0.98. The stock has a fifty day moving average of C$16.99 and a 200 day moving average of C$17.48.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last announced its quarterly earnings data on Tuesday, April 28th. The company reported C$1.07 earnings per share (EPS) for the quarter. The business had revenue of C$86.47 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%. As a group, sell-side analysts predict that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share for the current fiscal year.

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.