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Bullboard - Stock Discussion Forum
Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures
T.MRG.UN
Primary Symbol:
T.MRG.DB.B
Alternate Symbol(s):
MNARF
Morguard North American Residential Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The REIT owns, through a limited partnership, interests in Canadian residential apartment communities, located in Alberta and Ontario, and United States residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina...
, Virginia, and Maryland. The objectives of the REIT are to generate stable and growing cash distributions to Unitholders on a tax-efficient basis; to enhance the value of its portfolio and the long-term value of its units through active asset and property management; and to expand the REIT's asset base, primarily through acquisitions and property improvements. The REIT's multi-suite residential property portfolio consists of about 16 Canadian properties and 27 United States properties, having a total of approximately 13,089 residential suites and 239,500 square feet of commercial area.
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Bullboard (TSX:MRG.DB.B)
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(9)
•••
nini2022
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Post by
nini2022
on Apr 29, 2022 8:01am
RBC / TD raise target to $24
RBC has it's NAV at $32.50 and TD close to $30. The properties sold post-Q1 were done in the low 3% cap rate range, MRG units trade in the 6% implied cap rate range LOL. The properties sold were
...more
(62)
•••
Capharnaum
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Comment by
Capharnaum
on Apr 26, 2022 10:50pm
RE:almost 247 million in fair value gain
Trading at around 50% of NAV too...
Quimbaya Gold Inc. Announces Private Placement and Closing of First Tranche
posted Jun 07, 2024 9:00am by
Quimbaya Gold Inc.
-
|
Quimbaya Gold announces it is completing a private placement of units of the Company ("Units") for up to an aggregate of $3,000,000 (6,000,000 Units) at a price of $0.50 per Unit ...read more
(13075)
•••
SusanBolland
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Post by
SusanBolland
on Apr 26, 2022 6:34pm
Cash pile at MRG.UN
at the end of Q1 MRG.UN has 31 million in cash.... 100 million undrawn credit line .... 60 million lent to Morguard corp, ... 35.5 million in "up financing" coming from 2 mortgage renewals..
...more
(9)
•••
nini2022
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Comment by
nini2022
on Apr 26, 2022 6:13pm
RE:almost 247 million in fair value gain
Very good results. I'm not sure what its going to take to raise the distribution at this point. Sahi just doesn't seem to care much about his public unit holders unfortunately....at least not
...more
(20075)
•••
Jtpatrol1
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Post by
Jtpatrol1
on Apr 26, 2022 6:09pm
almost 247 million in fair value gain
almost 247 million in fair value gain on their properties ( about $4.00 a share ) Very low payout ratio of 53.8% and crazy low debt of just 37.3%... WOW !!
(9)
•••
nini2022
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Post by
nini2022
on Apr 04, 2022 11:57pm
RBC small cap convictions list
MRG.UN has been added to RBC's small cap conviction list with what they call an attractive risk-reward play for 2022. Can't say I disagree.
(62)
•••
Capharnaum
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Comment by
Capharnaum
on Mar 29, 2022 11:40am
RE:RE:New government intervention?
I think they imply that rent control measures could be put in place, which would "hurt" the residential REITs.
(9)
•••
nini2022
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Comment by
nini2022
on Mar 29, 2022 9:10am
RE:New government intervention?
I'm also having a hard time how any measures would negatively impact apartment REITs. These REITs are providing more "affordable" level units....harming their business would just mean
...more
(61)
•••
HermannHaller
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Post by
HermannHaller
on Mar 28, 2022 10:03am
New government intervention?
Article from last week on BNN suggests that some of the weakness in residential REITs is due to fears about new goverment measures. I don't understand this. Can someone explain to me how an owner
...more
(9)
•••
nini2022
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Post by
nini2022
on Feb 17, 2022 8:10am
TD raises to $23
NAV of $28.10.
(9)
•••
nini2022
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Post by
nini2022
on Feb 16, 2022 6:58pm
RBC raises target to $23
RBC NAV is $30.50. MRG is currently trading at an implied cap. rate of 5.7%. Basically impossible to get that kind of cap. rate in the private market.
(13075)
•••
SusanBolland
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Post by
SusanBolland
on Feb 16, 2022 7:31am
Big "fair value gain"
A fair value gain of over 132 million for the quarter. ( Thats over $2.20 a share ). Liquidity of over 196 million... low debt ratio of 40% on residential ... Time to buy
...more
(61)
•••
HermannHaller
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Post by
HermannHaller
on Jan 31, 2022 10:34am
RBC upgrade today - Outperform $22 target
'Too mispriced to ignore' (they have been ignoring far too long IMO)
(211)
•••
SargeX
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Comment by
SargeX
on Jan 27, 2022 5:21pm
RE:RE:Rentals looking good
I can't really put my finger on it but something really seems wrong with MRG. We held a minor position in it from Oct, 2019 to July, 2021 and made a couple bucks. I had initially bought it as a
...more
(9)
•••
nini2022
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Comment by
nini2022
on Jan 27, 2022 9:14am
RE:RE:Rentals looking good
I agree. The way I like to think of these long term mis-priced stocks (that at least pay out a respectable yield) is that we only need them to get to their real value once or twice every 5 years or so
...more
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