Morguard North American Residential REIT (TSE:MRG.UN) Share Price Passes Above Two Hundred Day Moving Average of $16.62

Morguard North American Residential REIT (TSE:MRG.UN – Get Rating)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$16.62 and traded as high as C$18.04. Morguard North American Residential REIT shares last traded at C$17.90, with a volume of 15,726 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MRG.UN shares. Royal Bank of Canada raised their price target 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 report on Thursday, February 16th. CIBC raised their price target on shares of Morguard North American Residential REIT from C$20.00 to C$23.50 and gave the company an “outperform” rating in a research report on Friday, February 17th. TD Securities raised their price target on shares of Morguard North American Residential REIT from C$22.00 to C$23.00 and gave the company a “buy” rating in a research report on Thursday, February 16th. Finally, Laurentian lifted their price objective on shares of Morguard North American Residential REIT from C$20.00 to C$21.50 in a research report on Friday, February 17th.

Morguard North American Residential REIT Trading Up 0.7 %

The firm has a market cap of C$699.17 million, a PE ratio of 3.23 and a beta of 1.03. The stock’s 50 day simple moving average is C$18.00 and its 200 day simple moving average is C$16.62. The company has a debt-to-equity ratio of 95.00, a quick ratio of 0.09 and a current ratio of 0.74.

About Morguard North American Residential REIT

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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.