Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN) Trading Down 1% – Should You Sell?

Morguard North American Residential Real Estate Investment Trust (TSE:MRG.UN)’s share price traded down 1% on Thursday . The stock traded as low as C$18.00 and last traded at C$18.04. 21,289 shares changed hands during trading, a decline of 24% from the average session volume of 28,059 shares. The stock had previously closed at C$18.22.

Wall Street Analysts Forecast Growth

Separately, TD Securities upped their price objective on Morguard North American Residential Real Estate Investment Trust from C$22.00 to C$23.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

Morguard North American Residential Real Estate Investment Trust Stock Down 0.8 %

The firm has a market cap of C$664.99 million, a PE ratio of 4.74 and a beta of 1.21. 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 stock has a fifty day simple moving average of C$18.43 and a two-hundred day simple moving average of C$17.43.

Morguard North American Residential Real Estate Investment Trust Company Profile

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.