Melcor Developments (TSE:MRD) Stock Crosses Above 200-Day Moving Average – Here’s Why

Melcor Developments Ltd. (TSE:MRD) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$14.46 and traded as high as C$15.19. Melcor Developments shares last traded at C$15.05, with a volume of 14,792 shares changing hands.

Melcor Developments Stock Down 0.3%

The firm has a 50-day moving average of C$14.86 and a two-hundred day moving average of C$14.46. The company has a quick ratio of 2.65, a current ratio of 18.08 and a debt-to-equity ratio of 53.41. The company has a market capitalization of C$453.16 million, a PE ratio of 7.84 and a beta of 0.57.

Melcor Developments (TSE:MRD) last posted its earnings results on Thursday, November 6th. The company reported C$0.46 EPS for the quarter. The company had revenue of C$72.54 million for the quarter. Melcor Developments had a return on equity of 0.94% and a net margin of 3.77%. Equities research analysts predict that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current fiscal year.

Melcor Developments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.5%. This is a boost from Melcor Developments’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, September 15th. Melcor Developments’s payout ratio is 23.96%.

Insider Buying and Selling at Melcor Developments

In related news, Director Timothy Charles Melton purchased 3,200 shares of Melcor Developments stock in a transaction dated Thursday, October 9th. The shares were acquired at an average cost of C$15.01 per share, with a total value of C$48,032.00. Following the purchase, the director owned 2,300,494 shares of the company’s stock, valued at approximately C$34,530,414.94. The trade was a 0.14% increase in their ownership of the stock. 65.20% of the stock is currently owned by corporate insiders.

About Melcor Developments

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.