Royal Bank Of Canada Raises Melcor Real Estate Investment Trust (MR.UN) Price Target to C$9.50

Melcor Real Estate Investment Trust (TSE:MR.UN) had its target price increased by Royal Bank Of Canada from C$9.00 to C$9.50 in a report released on Friday morning. Royal Bank Of Canada currently has a sector perform rating on the stock.

Separately, National Bank Financial raised their price objective on Melcor Real Estate Investment Trust from C$9.00 to C$9.50 and gave the company a sector perform rating in a research note on Friday.

Shares of Melcor Real Estate Investment Trust (MR.UN) opened at C$8.96 on Friday. Melcor Real Estate Investment Trust has a one year low of C$8.17 and a one year high of C$9.34.

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The business also recently announced a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 15th will be issued a $0.0563 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.54%.

Melcor Real Estate Investment Trust Company Profile

Melcor Real Estate Investment Trust (REIT) is a Canada-based open-ended real estate investment trust. The objectives of the REIT are to generate stable and growing cash distributions on a tax-efficient basis; enhance the value of the REIT’s assets and maximize long-term Unit value through active asset and property management, and expand the asset base of the REIT and increase adjusted funds from operations (AFFO) per Unit, primarily through acquisitions and improvement of its properties, including the Initial Properties, through targeted and strategically deployed capital expenditures.

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