Melcor Developments (TSE:MRD) Reaches New 12-Month High – What’s Next?

Melcor Developments Ltd. (TSE:MRD)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$15.56 and last traded at C$15.36, with a volume of 2215 shares trading hands. The stock had previously closed at C$15.43.

Melcor Developments Stock Performance

The company has a quick ratio of 2.65, a current ratio of 18.08 and a debt-to-equity ratio of 53.41. The stock has a market capitalization of C$462.49 million, a PE ratio of 8.00 and a beta of 0.59. The firm has a 50 day moving average price of C$14.88 and a 200-day moving average price of C$14.61.

Melcor Developments (TSE:MRD) last posted its quarterly earnings results on Thursday, November 6th. The company reported C$0.46 EPS for the quarter. Melcor Developments had a net margin of 3.77% and a return on equity of 0.94%. The company had revenue of C$72.54 million for the quarter. Research analysts expect that Melcor Developments Ltd. will post 2.3613596 EPS for the current fiscal year.

Melcor Developments Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.4%. Melcor Developments’s payout ratio is currently 23.96%.

Insider Buying and Selling at Melcor Developments

In other news, Director Timothy Charles Melton acquired 3,200 shares of the firm’s stock in a transaction on Thursday, October 9th. The shares were bought at an average price of C$15.01 per share, for a total transaction of C$48,032.00. Following the acquisition, the director owned 2,300,494 shares of the company’s stock, valued at approximately C$34,530,414.94. This trade represents a 0.14% increase in their position. 65.20% of the stock is currently owned by company insiders.

Melcor Developments Company Profile

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.