Thu Sep 19 06:57:18 UTC 2024: ## Morguard North American Residential REIT Sees Share Price Surge, Insider Buying and Analyst Optimism
**Toronto, Canada -** Morguard North American Residential Real Estate Investment Trust (MRG.UN) experienced a positive day on the Toronto Stock Exchange (TSE) on Wednesday, with its share price crossing above its 200-day moving average. The stock closed at C$19.02, a significant increase from its 200-day moving average of C$16.23.
This surge in share price comes amidst positive developments for the REIT. TD Securities upgraded their price objective on MRG.UN from C$22.00 to C$23.00, maintaining a “buy” rating on the stock. This optimism from analysts is further fueled by insider buying, with company insider Sime Armoyan purchasing 600 shares at an average cost of C$112.00 per share.
Morguard North American Residential REIT is a real estate investment trust focused on acquiring high-quality multi-suite residential properties in Canada and the United States. The REIT’s strategy revolves around active asset and property management to maximize long-term value for its unitholders.
The recent positive developments suggest a strong outlook for MRG.UN, indicating investor confidence in the company’s growth potential and its strategy of acquiring and managing quality residential properties.
First Piper 