Melcor Real Estate Investment Trust (TSE:MR.UN) Stock Passes Below 200-Day Moving Average of $3.80

Shares of Melcor Real Estate Investment Trust (TSE:MR.UN) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$3.80 and traded as low as C$2.90. Melcor Real Estate Investment Trust shares last traded at C$2.95, with a volume of 3,260 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada dropped their price target on Melcor Real Estate Investment Trust from C$4.50 to C$3.25 and set a “sector perform” rating on the stock in a research note on Thursday, March 7th. CIBC decreased their price target on Melcor Real Estate Investment Trust from C$3.75 to C$3.25 and set a “neutral” rating for the company in a report on Thursday, March 7th.

Melcor Real Estate Investment Trust Price Performance

The stock has a market cap of C$38.23 million, a P/E ratio of 49.17 and a beta of 2.06. The company has a debt-to-equity ratio of 243.65, a quick ratio of 0.03 and a current ratio of 0.26. The business has a 50 day simple moving average of C$3.10 and a 200-day simple moving average of C$3.79.

About Melcor Real Estate Investment Trust

Melcor REIT is an unincorporated, open-ended real estate investment trust. Melcor REIT owns, acquires, manages and leases quality retail, office and industrial income-generating properties in western Canadian markets. Its portfolio is currently made up of interests in 38 properties representing approximately 2.93 million square feet of gross leasable area located across Alberta and in Regina, Saskatchewan; and Kelowna, British Columbia.