Melcor Real Estate Investment Trust (TSE:MR.UN – Get Free Report) had its price target lowered by equities researchers at Royal Bank of Canada from C$4.50 to C$3.25 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 28.46% from the company’s previous close.
Separately, CIBC cut their price target on shares of 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.
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Melcor Real Estate Investment Trust Trading Down 4.9 %
TSE MR.UN opened at C$2.53 on Thursday. The stock has a market capitalization of C$32.79 million, a P/E ratio of 12.65 and a beta of 2.06. Melcor Real Estate Investment Trust has a 52-week low of C$2.19 and a 52-week high of C$5.88. The firm has a 50-day moving average price of C$4.03 and a 200 day moving average price of C$4.15. The company has a quick ratio of 0.03, a current ratio of 0.52 and a debt-to-equity ratio of 242.28.
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.
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