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

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) announced its earnings results on Tuesday. The company reported C$0.66 EPS for the quarter, FiscalAI reports. The business had revenue of C$87.21 million during the quarter. Morguard North American Residential Real Estate Investment Trust had a return on equity of 6.98% and a net margin of 40.48%.

Morguard North American Residential Real Estate Investment Trust Price Performance

MRG.UN stock traded down C$0.03 during mid-day trading on Tuesday, reaching C$16.65. The company’s stock had a trading volume of 30,595 shares, compared to its average volume of 27,569. The company has a current ratio of 0.80, a quick ratio of 0.09 and a debt-to-equity ratio of 95.54. The company’s 50 day moving average is C$16.87 and its two-hundred day moving average is C$17.44. Morguard North American Residential Real Estate Investment Trust has a fifty-two week low of C$16.31 and a fifty-two week high of C$19.20. The stock has a market cap of C$868.60 million, a PE ratio of 10.25 and a beta of 0.97.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank Of Canada dropped their price target on 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 report on Thursday, April 30th. TD decreased their price objective on 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 report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$22.25.

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.