Melcor Developments (TSE:MRD) Shares Cross Above Two Hundred Day Moving Average of $13.52

Melcor Developments Ltd. (TSE:MRD) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$13.52 and traded as high as C$14.53. Melcor Developments shares last traded at C$14.52, with a volume of 4,285 shares changing hands.

Separately, Royal Bank of Canada raised their target price on Melcor Developments from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a report on Thursday, November 18th.

The stock has a market cap of C$478.67 million and a price-to-earnings ratio of 42.71. The stock has a fifty day simple moving average of C$14.37 and a 200-day simple moving average of C$13.52. The company has a current ratio of 8.96, a quick ratio of 1.24 and a debt-to-equity ratio of 62.63.

Melcor Developments (TSE:MRD) last released its earnings results on Tuesday, November 9th. The company reported C$0.50 earnings per share (EPS) for the quarter. The business had revenue of C$56.21 million during the quarter. Sell-side analysts forecast that Melcor Developments Ltd. will post 1.7100001 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, December 14th. Melcor Developments’s dividend payout ratio (DPR) is currently 117.65%.

Melcor Developments Company Profile (TSE:MRD)

Melcor Developments Ltd. operates as a real estate development company in the United States and Canada. The company operates through Community Development, Property Development, Melcor REIT, Investment Properties, and Recreational Property segments. It develops and manages owns mixed-use residential communities, business and industrial parks, office buildings, retail centers, and golf courses.

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