Melcor Developments (TSE:MRD) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Melcor Developments Ltd. (TSE:MRD) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$14.35 and traded as high as C$14.82. Melcor Developments shares last traded at C$14.72, with a volume of 7,524 shares traded.

Melcor Developments Trading Up 2.7%

The firm’s 50-day simple moving average is C$14.88 and its 200 day simple moving average is C$14.37. The stock has a market cap of C$453.16 million, a P/E ratio of 7.84 and a beta of 0.57. The company has a current ratio of 18.08, a quick ratio of 2.65 and a debt-to-equity ratio of 53.41.

Melcor Developments (TSE:MRD) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.46 earnings per share for the quarter. Melcor Developments had a return on equity of 0.94% and a net margin of 3.77%.The company had revenue of C$72.54 million for the quarter. As a group, equities research analysts anticipate that Melcor Developments Ltd. will post 2.3613596 earnings per share for the current year.

Melcor Developments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.13 per share. This is a boost from Melcor Developments’s previous quarterly dividend of $0.11. The ex-dividend date was Monday, September 15th. This represents a $0.52 dividend on an annualized basis and a yield of 3.5%. Melcor Developments’s payout ratio is presently 23.96%.

Insider Activity

In other Melcor Developments news, Director Timothy Charles Melton purchased 3,200 shares of the firm’s stock in a transaction dated Thursday, October 9th. The stock was bought at an average price of C$15.01 per share, with a total value of C$48,032.00. Following the completion of the purchase, the director owned 2,300,494 shares in the company, valued at C$34,530,414.94. This trade represents a 0.14% increase in their position. Insiders own 65.20% of the company’s stock.

About Melcor Developments

Melcor Developments Ltd is a real estate development and asset management company. It develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. Its divisions include Community Development, which is engaged in acquiring raw land and planning residential communities and commercial developments; Property Development, which is engaged in project managing development, leasing, and construction of commercial properties; Investment Properties operates a portfolio of commercial and residential properties, focused on property improvements and capital appreciation; the REIT, which is engaged in acquiring and owning leasable office, retail, industrial and residential sites; Recreation Property and Corporate.