Melcor Real Estate Investment Trust (TSE:MR.UN)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$7.63 and last traded at C$7.67, with a volume of 10321 shares traded. The stock had previously closed at C$7.81.
Separately, Royal Bank of Canada reduced their target price on shares of Melcor Real Estate Investment Trust from C$9.00 to C$8.50 and set a “sector perform” rating on the stock in a report on Thursday, August 2nd. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of C$8.71.
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Melcor Real Estate Investment Trust Company Profile (TSE:MR.UN)
Melcor Real Estate Investment Trust (REIT) is a Canada-based open-ended real estate investment trust. The objectives of the REIT 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 (AFFO) per Unit, primarily through acquisitions and improvement of its properties, including the Initial Properties, through targeted and strategically deployed capital expenditures.
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