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Morguard (OTC) ( (TSE:MRC) ) has provided an announcement.
Morguard Corporation has increased its ownership in Morguard Real Estate Investment Trust by acquiring 1,364,062 trust units, raising its stake from 82.30% to 83.49%. This strategic acquisition, valued at $7,644,227.25, was executed through the Toronto Stock Exchange and the REIT’s distribution reinvestment plan. The move underscores Morguard’s commitment to expanding its investment portfolio and strengthening its position in the real estate market.
The most recent analyst rating on (TSE:MRC) stock is a Hold with a C$140.00 price target. To see the full list of analyst forecasts on Morguard (OTC) stock, see the TSE:MRC Stock Forecast page.
Spark’s Take on TSE:MRC Stock
According to Spark, TipRanks’ AI Analyst, TSE:MRC is a Outperform.
Morguard’s strong financial performance and attractive valuation are the most significant factors contributing to its overall score. Technical indicators support the stock’s bullish trend, while positive corporate events further reinforce investor confidence.
To see Spark’s full report on TSE:MRC stock, click here.
More about Morguard (OTC)
Morguard Corporation is a prominent North American real estate and property management company with significant holdings in retail, office, industrial, hotel, and residential properties. It owns and manages assets valued at $18.7 billion, including investments in Morguard Real Estate Investment Trust and Morguard North American Residential REIT. Morguard also provides real estate management services to institutional and other investors.
Average Trading Volume: 2,578
Technical Sentiment Signal: Buy
Current Market Cap: C$1.25B
See more data about MRC stock on TipRanks’ Stock Analysis page.