Morguard North American Residential REIT (TSE:MRG.UN) Price Target Cut to C$22.00

Morguard North American Residential REIT (TSE:MRG.UN) had its target price lowered by TD Securities from C$23.00 to C$22.00 in a research note released on Wednesday morning, BayStreet.CA reports.

Morguard North American Residential REIT Stock Down 0.3 %

Morguard North American Residential REIT stock opened at C$15.50 on Wednesday. The stock has a market cap of C$584.97 million, a P/E ratio of 3.32 and a beta of 1.18. The company has a quick ratio of 0.09, a current ratio of 0.19 and a debt-to-equity ratio of 92.78. Morguard North American Residential REIT has a twelve month low of C$13.08 and a twelve month high of C$17.72. The company’s 50-day moving average price is C$15.80 and its two-hundred day moving average price is C$14.91.

Insider Buying and Selling at Morguard North American Residential REIT

In related news, insider Sime Armoyan purchased 500 shares of the stock in a transaction on Tuesday, April 23rd. The shares were purchased at an average cost of C$110.00 per share, with a total value of C$55,000.00. Insiders have purchased a total of 4,700 shares of company stock valued at $516,989 in the last three months. 25.53% of the stock is currently owned by company 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.