Morguard North American Residential REIT (TSE:MRG.UN) Sets New 52-Week Low at $16.10

Morguard North American Residential REIT (TSE:MRG.UNGet Rating)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as C$16.10 and last traded at C$16.10, with a volume of 51395 shares. The stock had previously closed at C$17.09.

A number of research firms recently commented on MRG.UN. CIBC boosted their price objective on shares of Morguard North American Residential REIT from C$22.00 to C$23.00 and gave the stock an “outperform” rating in a report on Friday, February 18th. Royal Bank of Canada increased their price objective on shares of Morguard North American Residential REIT from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Friday, April 29th. Finally, TD Securities increased their price objective on shares of Morguard North American Residential REIT from C$23.00 to C$24.00 and gave the company a “buy” rating in a research note on Friday, April 29th.

The stock has a market cap of C$631.52 million and a P/E ratio of 1.67. The firm’s 50-day moving average is C$17.96 and its two-hundred day moving average is C$18.29. The company has a quick ratio of 0.12, a current ratio of 0.76 and a debt-to-equity ratio of 97.57.

Morguard North American Residential REIT Company Profile (TSE:MRG.UN)

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.

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