Morguard Real Estate Inv. (TSE:MRT.UN) had its target price cut by CIBC from C$13.00 to C$12.50 in a research note issued to investors on Friday, BayStreet.CA reports.
MRT.UN stock traded down C$0.25 during trading on Friday, hitting C$11.96. The stock had a trading volume of 67,618 shares, compared to its average volume of 22,005. The company has a 50 day moving average price of C$12.18. Morguard Real Estate Inv. has a 1-year low of C$10.45 and a 1-year high of C$13.21. The company has a market capitalization of $725.96 million and a PE ratio of 10.91. 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 other Morguard Real Estate Inv. news, insider Morguard Corporation purchased 313,048 shares of the stock in a transaction on Monday, June 3rd. The stock was 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 of the company’s stock, valued at C$111,116,084.88.
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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