Morguard North American Residential REIT (TSE:MRG.UN) Insider Sime Armoyan Buys 900 Shares

Morguard North American Residential REIT (TSE:MRG.UN) insider Sime Armoyan purchased 900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of C$110.00 per share, with a total value of C$99,000.00.

Sime Armoyan also recently made the following trade(s):

• On Monday, May 6th, Sime Armoyan acquired 2,100 shares of Morguard North American Residential REIT stock. The stock was acquired at an average cost of C$110.00 per share, for a total transaction of C$231,000.00.
• On Monday, April 29th, Sime Armoyan bought 1,300 shares of Morguard North American Residential REIT stock. The shares were acquired at an average cost of C$110.00 per share, with a total value of C$143,000.00.
• On Thursday, April 25th, Sime Armoyan purchased 100 shares of Morguard North American Residential REIT stock. The stock was acquired at an average price of C$110.00 per share, for a total transaction of C$11,000.00.
• On Tuesday, April 23rd, Sime Armoyan bought 500 shares of Morguard North American Residential REIT stock. The shares were bought at an average price of C$110.00 per share, for a total transaction of C$55,000.00.
• On Monday, April 15th, Sime Armoyan purchased 100 shares of Morguard North American Residential REIT stock. The stock was bought at an average price of C$109.90 per share, with a total value of C$10,990.00.
• On Thursday, February 29th, Sime Armoyan bought 400 shares of Morguard North American Residential REIT stock. The shares were bought at an average price of C$110.00 per share, for a total transaction of C$43,998.52.
• On Friday, February 23rd, Sime Armoyan purchased 3,600 shares of Morguard North American Residential REIT stock. The shares were bought at an average price of C$110.00 per share, with a total value of C$396,000.00.

Morguard North American Residential REIT Price Performance

TSE:MRG.UN traded up C$0.05 during trading hours on Thursday, reaching C$16.17. 40,806 shares of the company traded hands, compared to its average volume of 25,993. Morguard North American Residential REIT has a 1-year low of C$13.08 and a 1-year high of C$17.72. The stock has a market cap of C$608.15 million, a P/E ratio of 3.50 and a beta of 1.18. The firm’s 50-day moving average is C$15.72 and its 200-day moving average is C$14.93. The company has a debt-to-equity ratio of 92.48, a current ratio of 0.15 and a quick ratio of 0.09.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MRG.UN. TD Securities dropped their price objective on Morguard North American Residential REIT from C$23.00 to C$22.00 in a research note on Wednesday, April 24th. Royal Bank of Canada cut their price target on Morguard North American Residential REIT from C$20.00 to C$19.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd.

About Morguard North American Residential REIT

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management.