Melcor Developments (TSE:MRD) Sets New 1-Year High – Still a Buy?

Melcor Developments Ltd. (TSE:MRD)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$17.50 and last traded at C$17.50, with a volume of 17601 shares. The stock had previously closed at C$17.10.

Melcor Developments Trading Up 2.3%

The company has a quick ratio of 2.65, a current ratio of 15.87 and a debt-to-equity ratio of 47.67. The stock has a market capitalization of C$526.62 million, a P/E ratio of 9.11 and a beta of 0.63. The firm’s 50-day simple moving average is C$16.21 and its 200 day simple moving average is C$15.46.

Melcor Developments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, December 15th. Melcor Developments’s payout ratio is presently 23.96%.

About Melcor Developments

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.