In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Morguard NA REIT UN (MRG.UN). TD Securities’ analyst Jonathan Kelcher expressed some doubt today about the stock, as it was downgraded to Hold.
Kelcher has an average return of 7.8% when recommending Morguard NA REIT UN.
According to TipRanks.com, Kelcher is ranked #754 out of 5120 analysts.
Morguard NA REIT UN has an analyst consensus of Moderate Buy, with a price target consensus of C$18.25.
Based on Morguard NA REIT UN’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$21.55 million. In comparison, last year the company had a net profit of C$91.5 million.
Morguard North American Residential REIT is an open-ended real estate investment trust. It own a diversified portfolio of multi-suite residential rental properties.
The company’s shares closed on Monday at C$16.39.
