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

RE:RE:RE:RE:Enclosed malls

[Shirtlessnomore]

Yes your correct the Sears and department stores of old are out, there are alot of malls tho with walmart as an anchor, or an outdoor store etc. There is no formula for a mall anchor. Sears went out of business because it was sears, nothing to do with it being at a mall, same with Eaton's etc. And what do those stores have in common?? They dont cater to younger generations because if they changed to that demographic the mall may have made them survive but they refused, stuck to over priced old people clothes and over priced electronics, tools and appliances. Too much junk under one roof. I'm not saying malls are the be all end all, I am saying they have a place in the retail market, convenience, unaffected by weather, brand name clothing etc. And it's all an event, shop at the mall have lunch at the food court. Get some exercise. It's all there and many people love it.

wheeloffortune wrote: Not just yield, but principal stability.  The difference is that most of PLZ's plazas have Walmart as an achor and Walmart is a leader in retail.  What anchors does MRT have?  Boarded up Sears stores and HBC? 

Shirtlessnomore wrote: Also PLZ.UN is about 75 cents from its 52 week high, if your chasing yeild great but there is a nice big runway here.

wheeloffortune wrote: The market disagees with your analysis and why it went down another nickel, while other reits like PLZ went up a nickel.  MR's badly run.  Pain and simple.

Shirtlessnomore wrote: All you have to do is simply step back and evaluate enclosed malls and the benefits. 1. High exposure without much advertising 2. One stop shopping 3. they are always FULL of young people 4. Rent is being paid for these store owners. Our Young generation has money to burn these days and a high level of fashion, Malls are going nowhere, probably the #1 choice of where to shop, weather in canada sucks a$$ for over half the year, there is no wind, rain, cold or snow in a mall with one stop access to many stores and lunch or dinner. Park once and lots of options. I have a 16 year old daughter and when she asks if I will take her and her friend(s) shopping, the question is always phrased like this "can you drive us to the MALL" covid will go away and malls will return to normal and the stores that close will be replaced with money and brand new opportunity for another entrepreneur. That's just a fact. Their other retail real estate is doing just fine under the circumstances of maneuvering thru this fiasco. Their industrial real estate is 100% located in toronto and a non issue Their office real estate is spread across the largest cities in canada, if office space demand shrinks (which I doubt it will, simply because computers and people do more than ever before AND employers want these employees back at their desks as many employees require a babysitter, if they didnt they wouldnt be working for someone else) at any rate these office spaces can easily be turned into fantastic condos which are increasingly sought after in conversion buildings Just my opinion but this company will be just fine and at this price is literally a no brainer. Reward is far greater then risk here, especially because it's real estate. Gl cheers!