Morguard North American Residential REIT (TSE:MRG.UN)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$17.66 and last traded at C$17.62, with a volume of 28143 shares trading hands. The stock had previously closed at C$17.35.

Several equities analysts have issued reports on MRG.UN shares. TD Securities lifted their price objective on Morguard North American Residential REIT from C$18.00 to C$18.50 in a research report on Friday, November 2nd. CIBC boosted their target price on Morguard North American Residential REIT from C$18.00 to C$19.00 in a research report on Friday, November 2nd. Finally, Royal Bank of Canada boosted their target price on Morguard North American Residential REIT from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st.

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

Morguard North American Residential Real Estate Investment Trust (the Trust) is a real estate investment trust (REIT). The Trust’s investment objectives 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 per Unit primarily through acquisitions and improvement of its properties through targeted deployed capital expenditures.

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