Morguard Real Estate Inv. (TSE:MRT.UN) Sets New 52-Week High on Insider Buying Activity

Shares of Morguard Real Estate Inv. (TSE:MRT.UN) hit a new 52-week high on Friday after an insider bought additional shares in the company. The stock traded as high as C$5.80 and last traded at C$5.79, with a volume of 12137 shares. The stock had previously closed at C$5.78.

Specifically, insider Morguard Corporation acquired 39,400 shares of Morguard Real Estate Inv. stock in a transaction on Thursday, October 17th. The stock was bought at an average cost of C$5.74 per share, with a total value of C$226,297.84. Also, insider Morguard Corporation purchased 4,900 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average price of C$5.65 per share, for a total transaction of C$27,675.20. In other news, insider Morguard Corporation acquired 24,400 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average price of C$5.58 per share, with a total value of C$136,132.48.

Wall Street Analysts Forecast Growth

Separately, TD Securities lifted their target price on Morguard Real Estate Inv. from C$5.50 to C$6.00 and gave the company a “hold” rating in a research note on Wednesday, September 4th.

Morguard Real Estate Inv. Stock Up 0.5 %

The company has a current ratio of 0.08, a quick ratio of 0.04 and a debt-to-equity ratio of 135.58. The business’s fifty day moving average price is C$5.50 and its two-hundred day moving average price is C$5.41. The firm has a market cap of C$373.47 million, a P/E ratio of -3.50 and a beta of 1.40.

About Morguard Real Estate Inv.

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.