I'm liking Morguard North American Residential Real Estate Investment Trust MRG.UN

I'm liking Morguard North American Residential Real Estate Investment Trust  MRG.UN

I've been playing with the screener software supplied with the TD WebBroker self-directed account. One stock that keeps appearing on my screens is Morguard North American Residential Real Estate Investment Trust (MRG.UN).

I began looking deeper into this REIT. I'm liking what I'm finding. I  discovered that the TD analyst believes the present and future growth is not being reflected completely in the current share price. MRG.UN is rated a BUY with a Target Price of $18.50, up from $18.00.

Morningstar calculates a Fair Market Value for this stock of $18.32. I always like to pay less than the fair market value, if possible. At this moment, MRG.UN is selling for $17.43. Despite today being a down day, MRG.UN is up .81% .

The profit margin is 95.84%, well above the industry average. The ROE is 25.23%, more than twice the industry average. And despite yielding almost 4%, the payout ratio is only 10.35%.

As usual, all the numbers are not as good as those mentioned but reading the figures leaves me with confidence. It this stock takes a dip, I'll try and buy a few hundred shares. What would it take to make me a buyer? I'd like a yield of 4%. I'm retired, I need the cash flow to live.

Note: I am talking about Morguard North American Residential Real Estate Investment Trust (MRG.UN). I am NOT referring to Morguard Real Estate Investment Trust (MRT.UN). The one is MRG and the other is MRT.