CIBC Believes Morguard NA REIT UN (TSX: MRG.UN) Still Has Room to Grow

By Ryan Adsit

In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, Morguard NA REIT UN (MRG.UNResearch Report). Analyst Dean Wilkinson from CIBC reiterated a Buy rating, with a C$22 price target on August 1.

According to TipRanks.com, Wilkinson is ranked #545 out of 5237 analysts.

Currently, the analyst consensus on Morguard NA REIT UN is a Moderate Buy with an average price target of C$21.33, which is a 4.5% upside from current levels. In a report issued on July 31, Echelon Wealth Partners also maintained a Buy rating on the stock with a C$21 price target.

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Morguard NA REIT UN’s market cap is currently C$688.4M and has a P/E ratio of 5.7. The company has a Price to Book ratio of 0.67.

Morguard North American Residential REIT is an open-ended real estate investment trust. The company owns a diversified portfolio of multi-suite residential rental properties.

The company’s shares closed on Friday at C$20.41, close to its 52-week high of C$20.73.