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

Alternate Symbol(s):  T.MRT.UN | MGRUF

Real Estate REIT - Diversified
Morguard Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Company provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors. The Company owns a diversified portfolio of 46 retail, office and industrial income-producing properties in Canada consisting of approximately 8.2 million square feet of leasable space. It owns and manages a diversified portfolio of office, industrial, retail, multi-suite residential and hotel properties in North America. It is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT, a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT, an open-end Trust with a diversified portfolio of multi-suite residential assets across North America.


TSX:MRT.DB.A - Post by User

Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures
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Post by luscar99on Feb 20, 2024 2:31pm
110 Views
Post# 35889398

Looking for value

Looking for valueNAVps according to TD: $7.70.
Yield 4.5%, payout ratio 44%- one of the lowest in the sector.
It appears the company is focused on stabilizing revenue and reducing debt. So far mildly successful on both accounts.

2024 was a tough year with $27.8M in principal repayments and  $307.7M mortgage maturities.
2025 will have $26.8M and $115.7M.

Unencumbered assets: $231.4M 
Total debt: $1245M

There is some value here but the office space remains a sore point.




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