TD Securities Increases Morguard North American Residential REIT (TSE:MRG.UN) Price Target to C$21.00

Morguard North American Residential REIT (TSE:MRG.UN) had its price target boosted by analysts at TD Securities from C$20.00 to C$21.00 in a research report issued on Friday, BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ price objective points to a potential upside of 3.04% from the stock’s current price.

MRG.UN has been the topic of several other reports. Royal Bank of Canada raised their price objective 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. CIBC raised their price objective on Morguard North American Residential REIT from C$19.00 to C$19.50 in a report on Friday, May 3rd. Echelon Wealth Partners restated a “buy” rating and set a C$21.00 price objective on shares of Morguard North American Residential REIT in a report on Thursday. Finally, Laurentian lifted their price target on Morguard North American Residential REIT from C$21.00 to C$22.50 in a report on Friday.

MRG.UN traded up C$0.42 during trading on Friday, hitting C$20.38. 83,952 shares of the stock were exchanged, compared to its average volume of 34,809. The stock has a 50 day moving average price of C$18.97. The firm has a market capitalization of $689.11 million and a price-to-earnings ratio of 7.09. Morguard North American Residential REIT has a 1 year low of C$15.12 and a 1 year high of C$20.08. The company has a debt-to-equity ratio of 150.43, a quick ratio of 0.14 and a current ratio of 0.25.

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.

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