Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Stock Crosses Below 200-Day Moving Average – Here’s Why

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$17.48 and traded as low as C$16.74. Morguard North American Residential Real Estate Investment Trust shares last traded at C$16.75, with a volume of 26,836 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MRG.UN shares. TD decreased their price objective on shares of Morguard North American Residential Real Estate Investment Trust from C$24.00 to C$23.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on shares of Morguard North American Residential Real Estate Investment Trust from C$21.00 to C$20.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$22.25.

Morguard North American Residential Real Estate Investment Trust Trading Up 1.9%

The firm has a market cap of C$887.90 million, a P/E ratio of 10.47 and a beta of 0.98. The stock has a 50 day moving average of C$16.97 and a 200 day moving average of C$17.48. The company has a debt-to-equity ratio of 95.54, a current ratio of 0.80 and a quick ratio of 0.09.

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) last announced its quarterly earnings results on Tuesday, April 28th. The company reported C$1.07 earnings per share (EPS) for the quarter. Morguard North American Residential Real Estate Investment Trust had a net margin of 40.48% and a return on equity of 6.98%. The business had revenue of C$86.47 million for the quarter. As a group, equities research analysts predict that Morguard North American Residential Real Estate Investment Trust will post 1.38795 EPS for the current year.

About Morguard North American Residential Real Estate Investment Trust

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.