Morguard North American Residential REIT (MRG.UN) Price Target Raised to C$19.00

Morguard North American Residential REIT (TSE:MRG.UN) had its price target boosted by equities researchers at CIBC from C$18.00 to C$19.00 in a research note issued to investors on Friday. CIBC’s price target would indicate a potential upside of 15.15% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. TD Securities set a C$18.00 price target on shares of Morguard North American Residential REIT in a report on Friday, August 3rd. Royal Bank of Canada raised their price target on shares of Morguard North American Residential REIT from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st.

Shares of MRG.UN stock traded up C$0.10 during trading on Friday, hitting C$16.50. 66,395 shares of the company were exchanged, compared to its average volume of 34,809. Morguard North American Residential REIT has a twelve month low of C$13.17 and a twelve month high of C$16.21.

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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