Morguard Real Estate Inv. (TSE:MRT.UN) Price Target Cut to C$12.50

Morguard Real Estate Inv. (TSE:MRT.UN) had its price objective dropped by stock analysts at CIBC from C$13.00 to C$12.50 in a report issued on Friday, BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 4.17% from the stock’s current price.

Shares of MRT.UN traded down C$0.21 during mid-day trading on Friday, reaching C$12.00. The company had a trading volume of 56,211 shares, compared to its average volume of 22,005. The firm has a market capitalization of $727.18 million and a PE ratio of 10.95. The company’s fifty day simple moving average is C$12.19. Morguard Real Estate Inv. has a fifty-two week low of C$10.45 and a fifty-two week high of C$13.21. The company has a debt-to-equity ratio of 85.32, a quick ratio of 0.09 and a current ratio of 0.12.

In related news, insider Morguard Corporation purchased 313,048 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were bought at an average price of C$11.82 per share, for a total transaction of C$3,700,227.36. Following the acquisition, the insider now directly owns 9,400,684 shares in the company, valued at C$111,116,084.88.

About Morguard Real Estate Inv.

The Trust is a closed-end real estate investment trust, which owns a diversified portfolio of 49 retail, office and industrial income producing properties in Canada with a book value of $3.0 billion and approximately 8.6 million square feet of leasable space.

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