Morguard North American Residential REIT (TSE:MRG.UN) Given New C$19.00 Price Target at Royal Bank of Canada

Morguard North American Residential REIT (TSE:MRG.UN) had its price target reduced by Royal Bank of Canada from C$20.00 to C$19.00 in a research note released on Thursday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Separately, TD Securities cut their target price on Morguard North American Residential REIT from C$23.00 to C$22.00 in a research note on Wednesday, April 24th.

Morguard North American Residential REIT Price Performance

Shares of TSE MRG.UN opened at C$15.26 on Thursday. The company has a 50 day simple moving average of C$15.72 and a two-hundred day simple moving average of C$14.91. Morguard North American Residential REIT has a fifty-two week low of C$13.08 and a fifty-two week high of C$17.72. The company has a market capitalization of C$573.93 million, a price-to-earnings ratio of 3.32 and a beta of 1.18. The company has a debt-to-equity ratio of 92.48, a quick ratio of 0.09 and a current ratio of 0.15.

Insider Activity

In other Morguard North American Residential REIT news, insider Sime Armoyan bought 400 shares of Morguard North American Residential REIT stock in a transaction on Thursday, February 29th. The stock was acquired at an average price of C$110.00 per share, with a total value of C$43,998.52. Insiders have bought a total of 6,000 shares of company stock worth $659,989 over the last 90 days. 25.66% of the stock is currently owned by insiders.

About Morguard North American Residential REIT

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.