RE:RE:RE:2020 and Q4 results are inof course, I'm more than happy to explain this:
-MRC has large ownership in MRT.UN and owns malls itself. MRT.UN has a large ownership in regional malls as well..Obviously, these assets can only be liquidated for less than book value because of future declining earnings
-MRC has a small stake in hotels, these assets deserve to trade at a discount
-Needless to say, office properties deserve a discount as well.
Overall, when you look at this whole mess, this book value overstates the value of MRC's properties by at least 20-30%. Do not ever expect morguard to trade at book value, a permenant 20-30% discount would be my guess.
pierrelebel wrote: MTLfinecity wrote "you know the book value is fake..."
Actually, I do not "know" that!
Could you please provide details how you reach that conclusion - specifically.
My wife and I are shareholders of MRC and unitholders of both MRT.UN and MRG.UN
Disclosure - yes I think Montreal is a fine city as I was born there in 1945.