Morguard North American Residential REIT (MRG.UN) Sets New 52-Week Low at $13.89

Morguard North American Residential REIT (TSE:MRG.UN) hit a new 52-week low on Friday . The stock traded as low as C$13.89 and last traded at C$14.08, with a volume of 55794 shares. The stock had previously closed at C$14.47.

Separately, TD Securities decreased their target price on shares of Morguard North American Residential REIT from C$17.50 to C$17.00 and set a “buy” rating for the company in a research note on Friday, November 3rd.

The company has a market cap of $469.58, a P/E ratio of 8.10 and a beta of 0.32.

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Morguard North American Residential REIT Company Profile

Morguard North American Residential Real Estate Investment Trust (the Trust) is a real estate investment trust (REIT). The Trust’s investment objectives are to generate stable and growing cash distributions on a tax-efficient basis; enhance the value of the REIT’s assets and maximize long-term Unit value through active asset and property management, and expand the asset base of the REIT and increase adjusted funds from operations per Unit primarily through acquisitions and improvement of its properties through targeted deployed capital expenditures.

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