Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures T.MRG.DB.B

RE:RBC raises target to $25

[nini2022]

Thanks for sharing! I think the only way for the units to get even close to NAV with the current structure is to:

1) raise the distribution signigicantly over the next 1-3 years so investors take notice that management is serious about the public unitholder.
2) Do a secondary offering with a institutional shareholder well over the public trading price. This is pretty unlikely but they do have JVs with HOOPP on one chicago tower in the MRG portfolio and several in the MRC portfolio.

Appreciate you sharing the RBC update, please keep sharing!