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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 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.


TSX:MRG.DB.B - Post by User

Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures > Undervalued?
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Comment by HermannHalleron Feb 18, 2021 12:51pm
265 Views
Post# 32596753

RE:RE:RE:Undervalued?

RE:RE:RE:Undervalued?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.


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