Morguard North American Residential REIT (TSE:MRG.UN) Price Target Increased to C$24.00 by Analysts at Royal Bank of Canada

Morguard North American Residential REIT (TSE:MRG.UNGet Rating) had its target price upped by Royal Bank of Canada from C$23.00 to C$24.00 in a research report sent to investors on Friday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on MRG.UN. TD Securities lifted their price objective on Morguard North American Residential REIT from C$23.00 to C$24.00 and gave the company a buy rating in a research note on Friday. CIBC lifted their price objective on Morguard North American Residential REIT from C$22.00 to C$23.00 and gave the company an outperform rating in a research note on Friday, February 18th.

MRG.UN stock opened at C$18.45 on Friday. The business’s 50-day moving average is C$19.41 and its two-hundred day moving average is C$18.46. The company has a debt-to-equity ratio of 108.17, a current ratio of 0.84 and a quick ratio of 0.23. The firm has a market capitalization of C$720.93 million and a P/E ratio of 2.98. Morguard North American Residential REIT has a 1 year low of C$15.57 and a 1 year high of C$20.52.

Morguard North American Residential REIT Company Profile (Get Rating)

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.

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