Echelon Wealth Partners Reaffirms Buy Rating for Morguard North American Residential REIT (TSE:MRG.UN)

Echelon Wealth Partners restated their buy rating on shares of Morguard North American Residential REIT (TSE:MRG.UN) in a research note released on Thursday morning, AnalystRatings.com reports. The firm currently has a C$21.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. CIBC upped their price target on Morguard North American Residential REIT from C$19.00 to C$19.50 in a research note on Friday, May 3rd. Royal Bank of Canada upped their price target on Morguard North American Residential REIT from C$18.00 to C$19.00 and gave the stock a sector perform rating in a research note on Thursday, May 2nd.

Morguard North American Residential REIT stock opened at C$20.41 on Thursday. Morguard North American Residential REIT has a 12 month low of C$15.12 and a 12 month high of C$20.08. The company has a debt-to-equity ratio of 150.43, a current ratio of 0.25 and a quick ratio of 0.14. The business’s 50 day moving average is C$19.01. The stock has a market capitalization of $688.44 million and a PE ratio of 7.10.

Morguard North American Residential REIT 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.

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