Royal Bank of Canada Cuts Melcor Real Estate Investment Trust (MR.UN) Price Target to C$9.00
Melcor Real Estate Investment Trust (TSE:MR.UN) had its price objective cut by Royal Bank of Canada from C$9.50 to C$9.00 in a research note issued to investors on Wednesday. They currently have a sector perform rating on the stock.
Other equities analysts also recently issued research reports about the stock. Canaccord Genuity cut their price objective on shares of Melcor Real Estate Investment Trust from C$9.00 to C$8.75 in a report on Monday, March 5th. National Bank Financial restated a sector perform rating and set a C$9.50 price objective on shares of Melcor Real Estate Investment Trust in a report on Friday, December 22nd.
Melcor Real Estate Investment Trust (MR.UN) opened at C$8.14 on Wednesday. The company has a market cap of $107.34, a PE ratio of -10.05 and a beta of 0.41. Melcor Real Estate Investment Trust has a fifty-two week low of C$7.77 and a fifty-two week high of C$9.34.
Melcor Real Estate Investment Trust (REIT) is a Canada-based open-ended real estate investment trust. The objectives of the REIT are to generate stable and growing cash distributions on a tax-efficient basis; enhance the value of the REIT’s assets and maximize long-term Unit value through active asset and property management, and expand the asset base of the REIT and increase adjusted funds from operations (AFFO) per Unit, primarily through acquisitions and improvement of its properties, including the Initial Properties, through targeted and strategically deployed capital expenditures.
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