Melcor Real Estate Investment Trust (TSE:MR.UN) Share Price Crosses Below 200 Day Moving Average of $3.92

Melcor Real Estate Investment Trust (TSE:MR.UN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$3.92 and traded as low as C$3.07. Melcor Real Estate Investment Trust shares last traded at C$3.08, with a volume of 16,896 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on Melcor Real Estate Investment Trust from C$4.50 to C$3.25 and set a “sector perform” rating for the company in a research report on Thursday, March 7th. CIBC reduced their price objective on Melcor Real Estate Investment Trust from C$3.75 to C$3.25 and set a “neutral” rating for the company in a research report on Thursday, March 7th.

Melcor Real Estate Investment Trust Stock Down 2.5 %

The business has a 50 day moving average of C$3.51 and a 200 day moving average of C$3.92. The company has a debt-to-equity ratio of 243.65, a current ratio of 0.26 and a quick ratio of 0.03. The firm has a market capitalization of C$39.92 million, a price-to-earnings ratio of 51.33 and a beta of 2.06.

About Melcor Real Estate Investment Trust

Melcor REIT is an unincorporated, open-ended real estate investment trust. Melcor REIT owns, acquires, manages and leases quality retail, office and industrial income-generating properties in western Canadian markets. Its portfolio is currently made up of interests in 38 properties representing approximately 2.93 million square feet of gross leasable area located across Alberta and in Regina, Saskatchewan; and Kelowna, British Columbia.