Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures T.MRT.DB.A

short interest

[WEBuffettisbest]

still at 2.3 million as of feb 28

[slst]

This short positon has been this large for quite some time.  I believe shortsellers, have to come up with the distribution every month, while we are waiting for a rocket ride up. If the short position is NOT an error, the sellers have super nerves of steel.  One would expect that they should start closing before something good happens: Like: Increase in distribution, Major

[babybunny]

Any whiff of good news on Morguard REIT could trigger a big leap.  In particular, a press release regarding Burquindale Plaza will have the shorts wishing they had worn diapers.   MRT.UN would make a terrific short squeeze for the reddit guys getting tired of Gamestop, AMC, Blackberry, and the like.  A few dozen small investors is all it would take to send it through the roof.

[slst]

I forgot about the Burquitlam Plaza...that is potential huge too.  They have been at it for a while. Fingers crossed, Ive been waiting a while, just for the distribution to be increased.

[WEBuffettisbest]

As of Mar 15, short interest is up 44k to 2,360,595. I agree that any of the above could move the price significantly. May have to wait untill they refinace maturing debt for this year.

[Shirtlessnomore]

Maybe someone could explain to me how almost 2.5 million shares could possibly get covered on this stock when the s.p is already pathetic? Honestly please someone chime in here and riddle me how some have held this for literally months in a short position and still not have covered when it was recently down to 5.10?? What price is someone waiting for to cover on this? Perhaps a better question is

[babybunny]

The shorts are dummies who are determined to short indoor retail wihout any regard to valuation.  Be happy that the shorts are so exposed.  When the share price (finally) pops, they will be unable to cover and will be cooked in their own juices.  Folks like me will ignore their screams; I for one will not even start trimming my position until the share price reaches the teens.

[flamingogold]

Shorts are usually saavy and often due more DD than the average long investor. There is still a lot of negative sentiment out there for brick & mortar. The effects of covid are visible everywhere with vacant space all over cities and even total ghost buildings. I think MRT will pull through, and I believe that is the bet that's going on here. Shorts are not just betting on the stock

[WEBuffettisbest]

Agree that shorts do more due diligence than longs. The retail negativity is a big one, but mrt has to refinance this years debt renewals which have a leverage ratio of more than 80% (due to write downs on properties), meaning that mrt is going to have to pay down some debt on renewal. In 2023, the leverage ratio on renewals is over 60%, mrt likely have to put in money. We are unlikely to see a

[Predator2018]

Billions have been lost by funds that shorted Nickel in LME & Shanghai. MRT shorters are walking on a tight rope. MRT has more than $30 million in unencumbered or debt free assets that easily by tapped to squeeze the hell out of these insane shorters living on borrowed time. With its very tight float, the gap to $10 is small.

[Predator2018]

Billions have been lost by funds that shorted Nickel in LME & Shanghai. MRT shorters are walking on a tight rope. MRT has more than $340 million in unencumbered or debt free assets that easily by tapped to squeeze the hell out of these insane shorters living on borrowed time. With its very tight float, the gap to $10 is small.

[flamingogold]

What is the chance of an acitivist investor coming in here as a deep value play. I have been in 2 stocks where an acitivist stepped in and pressured management to get the share price higher to better reflect it's true value. Last year was a doozie, a script written to fit a movie, with Sir Royalty (SRV.UN) and a few years before that with Aimia, Aeroplan and Air Canada. In both cases, the

[Mrguillaume]

Zero   Sahi controls MRC and its subs MRG and MRT as well as TWC. No institution or activist will ever gain leverage.

[babybunny]

There IS room for an activist investor here ... but as a c**k-blocker, not as a suitor. As I see it, the biggest risk faced by us MRT minority unitholders is the risk of a takeunder, which I more colourfully refer to as a f**kover.  For example, if MRC were to offer $8 per unit for the remaining MRT units, when NAV is much higher.  I personally would not tender to such a lowball offer

[flamingogold]

This is exactly what I'm thinking, and what I recently went through with Sir Royalty (SRV.UN) which is controlled by SIR Corp. Hospitality, like office and mall reits,, have been ground zero for covid. SRV is primarily controlled by one man, similar to here, who initiated a takeunder low ball bid back in Jan 2021. That brought out an activisit investor Lembit Janes from Janes Family Foods who

[Predator2018]

MELCOR REIT MR.UN HAD AN ACTIVIST INVESTOR LAST YEAR AND THE SHARE HAS DOUBLED SINCE THEN AND NOW NEAR 1 YEAR HIGH. I HAVE WATCHED THIS STOCK SINCE 2000 AND IS AMAZED AND THE TRUE BOOK VALUE IS MORE THAN $28 A SHARE. IT IPO AS A CLOSE END REIT FUND. THE REDUCTION IN BOOK VALUE IS FROM WRITEDOWNS WHICH ARE JUST PAPER LOSSES. THERE IS DEEP VALUE HERE AS MOST OF THEIR ASSETS ARE LOCATED IN VERY GOOD

[Predator2018]

IF YOU INCLUDE SKYROCKETING INFLATION, THE BOOK VALUE IS ABOVE $30. REAL ESTATE APPRECIATES AND ALL THE WRITEDOWNS ARE NOT REFLECTIVE OF THE TRUE COST OF ACQUISITION OF THESE ASSETS. THEY ARE SELLING AT LESS THAN 30 CENTS TO A DOLLAR OF ACQUISITION COST WHILE IN REALITY THE PROPERTIES HAVE LIKELY APPRECIATED.

[Shirtlessnomore]

Agree!

[Shirtlessnomore]

Melcor was a cash cow for me, I even got some as low as 2.80 at the start of this. Just curious but why are you shouting? Lol. Cheers