Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Reaches New 12-Month Low – Time to Sell?

Shares of Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$16.11 and last traded at C$16.15, with a volume of 14180 shares. The stock had previously closed at C$16.65.

Analysts Set New Price Targets

MRG.UN has been the topic of several research reports. TD cut 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 research report on Wednesday, April 29th. Royal Bank Of Canada decreased their target price 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. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$22.25.

Morguard North American Residential Real Estate Investment Trust Stock Up 0.3%

The stock’s 50 day simple moving average is C$16.86 and its two-hundred day simple moving average is C$17.40. The firm has a market cap of C$847.21 million, a P/E ratio of 9.99 and a beta of 0.97. 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 posted its quarterly earnings results on Tuesday, July 28th. The company reported C$0.66 earnings per share for 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%.The company had revenue of C$87.21 million for the quarter. As a group, research analysts forecast that Morguard North American Residential Real Estate Investment Trust will post 1.38795 earnings per share 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.