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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 U.S. residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia, and... see more

Bullboard (TSX:MRG.DB.B)

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Comment by nini2022on Jul 27, 2022 8:58am

RE:MRG.UN balance sheet

I wonder what their reasoning will be for not increasing the distribution....I'm sure Sahi will just say "we talk about it" and add not other context.
140
Discussion
Post by sweetMolly1on Jul 26, 2022 7:30pm

MRG.UN balance sheet

Even after MRG.UN buys the 350 apartments in Illinois for $171.4 million in Q3 They will still have $81 million in cash and $100 million on a undrawn power line ..... all this with a crazy low payout ...more  
330
Discussion
Comment by HermannHalleron Jul 26, 2022 4:53pm

RE:Amazing Q2 results !!

Yes fantastic results! RBC est out today was for 32c FFO. I would just add that the big acquisition in Illinois looks to be about the same size as recent sales of properties (Georgia, Florida and ...more  
187
Discussion
Comment by nini2022on Jul 26, 2022 4:53pm

RE:Amazing Q2 results !!

Agreed - they've also sold three buildings at or above the previous quarters IFRS value....it's laughably cheap but structurally it seems like it will always be too cheap vs. its peers because ...more  
240
Discussion
Post by SusanBollandon Jul 26, 2022 4:48pm

Amazing Q2 results !!

As expected the results were amazing .... Occupancy up in Canada and the U.S. ... I believe an all time high in FFO of .35 cents, translating into a 46.7% payout ratio ..... Debt is a very low 35.6% . ...more  
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Discussion
Comment by nini2022on Jul 26, 2022 4:35pm

RE:Expecting a great Q2

Good call. Looks like they crushed it.
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Discussion
Comment by HermannHalleron Jul 26, 2022 10:20am

RE:Expecting a great Q2

I agree, should be a good quarter. We might not see the full university reopening benefit until Q4 though. Hopefully also something along the lines of dividend increase/share buybacks.
133
Discussion
Post by SusanBollandon Jul 26, 2022 7:43am

Expecting a great Q2

I think MRG.UN is going to have a "RECORD" quarter. I'm expecting : 1. Occupancy should have increased due to students going back to school, and immigration picking up, along with ...more  
261
Discussion
Post by sweetMolly1on Jul 22, 2022 6:11am

Watch the bond market

Interesting that with all the talk about "rising interest rates" the real cost of money, whether its the U.S. 10 year or the Canadian 10 year is around the same as it was back in late April. ...more  
201
Post by HermannHalleron Jul 13, 2022 5:48pm

US rents moving higher

Should be big income growth from the US properties, about 60% of portfolio. https://finance.yahoo.com/news/rents-us-rise-fastest-pace-161957394.html
211
Discussion
Post by HermannHalleron Jul 05, 2022 3:49pm

Canada’s overheated rental market

From's today's G&M: Students are struggling to secure housing in Canada’s overheated rental market https://www.theglobeandmail.com/investing/personal-finance/household-finances/article ...more  
182
Post by Jtpatrol1on Jun 29, 2022 3:57pm

Ontario approves a 2.5% rent increase for 2023

With MRG.UN getting 1/3 of their revenue from Ontario they are able to increase rents 2.5% for 2023 and they are achieving over 13% on turnovers...   In the U.S. there is no rent control ...more  
220
Comment by Jtpatrol1on Jun 27, 2022 9:16am

RE:TD upgrades REIT sector to "overweight "

today's strong inflationary pressure is driving up construction costs and replacement costs (which could place further upward pressure on rents).
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Discussion
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