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

RE:RE:RE:Undervalued?

[HermannHaller]

Unfortunately MRT.UN just cut its distribution in half, the second time in 12 months. That REIT is down 13% today. And while MRG.UN is a different business, in different geographies, I can't help but think that there is a bit of a taint on the whole Morguard name. Or more of a taint I should say. Morguard of course did not cause the pandemic, but MRT.UN has certainly proven to be the worst hit, and the lack of commitment to the distribution may come back to haunt Morguard the next time they try to raise equity.