Melcor Developments (TSE:MRD) Reaches New 52-Week High – Still a Buy?

Melcor Developments Ltd. (TSE:MRD) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$19.38 and last traded at C$19.25, with a volume of 1416 shares traded. The stock had previously closed at C$19.08.

Melcor Developments Stock Down 0.2%

The firm has a market cap of C$574.53 million, a PE ratio of 7.63 and a beta of 0.44. The company has a 50-day simple moving average of C$18.26 and a 200-day simple moving average of C$17.55. The company has a debt-to-equity ratio of 39.23, a current ratio of 4.21 and a quick ratio of 2.65.

Melcor Developments (TSE:MRD) last issued its quarterly earnings results on Thursday, May 7th. The company reported C$0.76 earnings per share for the quarter. Melcor Developments had a return on equity of 6.06% and a net margin of 18.80%.The firm had revenue of C$45.37 million for the quarter. Analysts expect that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current fiscal year.

Melcor Developments Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.15 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a yield of 3.1%. Melcor Developments’s dividend payout ratio (DPR) is presently 20.72%.

Melcor Developments Company Profile

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado. Melcor has been focused on real estate since 1923.