Morguard North American Residential REIT (TSE:MRG.UN) PT Raised to C$21.00 at TD Securities

Morguard North American Residential REIT (TSE:MRG.UN) had its target price hoisted by TD Securities from C$20.00 to C$21.00 in a research note released on Friday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other research firms have also recently issued reports on MRG.UN. Echelon Wealth Partners restated a buy rating and set a C$21.00 price target on shares of Morguard North American Residential REIT in a report on Thursday, August 1st. CIBC increased their price target on Morguard North American Residential REIT from C$19.00 to C$19.50 in a report on Friday, May 3rd. Laurentian increased their price target on Morguard North American Residential REIT from C$21.00 to C$22.50 in a report on Friday. Finally, Royal Bank of Canada increased their price target on Morguard North American Residential REIT from C$19.00 to C$21.00 and gave the stock a sector perform rating in a report on Thursday, August 1st.

Morguard North American Residential REIT stock opened at C$20.41 on Friday. The company has a market cap of $688.44 million and a PE ratio of 4.00. Morguard North American Residential REIT has a 52-week low of C$15.65 and a 52-week high of C$20.73. The stock’s 50 day simple moving average is C$19.13. The company has a debt-to-equity ratio of 149.01, a current ratio of 0.24 and a quick ratio of 0.14.

About Morguard North American Residential REIT

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.

Further Reading: Why do analysts give a neutral rating?

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