Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Posts Quarterly Earnings Results

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) issued its earnings results on Tuesday. The company reported C$0.80 EPS for the quarter, FiscalAI reports. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. The company had revenue of C$88.17 million for the quarter.

Morguard North American Residential Real Estate Investment Trust Trading Up 1.0%

Morguard North American Residential Real Estate Investment Trust stock opened at C$18.85 on Thursday. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09. The company’s fifty day moving average price is C$17.76 and its two-hundred day moving average price is C$17.90. The company has a market capitalization of C$983.08 million, a price-to-earnings ratio of 5.39 and a beta of 0.90. Morguard North American Residential Real Estate Investment Trust has a one year low of C$14.88 and a one year high of C$19.20.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRG.UN. TD Securities boosted their price objective on Morguard North American Residential Real Estate Investment Trust from C$23.00 to C$24.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada downgraded Morguard North American Residential Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$20.00 to C$21.00 in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$22.33.

Morguard North American Residential Real Estate Investment Trust Company Profile

Morguard North American Residential Real Estate Investment Trust is an open-end real estate investment trust. The REIT invests in multi-suite residential rental properties in Canada and the United States. The REIT operates into two reportable segments, Canada and the United States. The United States contributes to the vast majority of revenue.