Morguard Corp T.MRC

Alternate Symbol(s): MRCBF

Morguard Corporation is a Canada-based real estate company. The Company’s principal activities include property ownership, development and investment advisory services. Property ownership encompasses interests in multi-suite residential, commercial and hotel properties located in Canada and the United States. The Company owns a diversified portfolio of 178 multi-suite residential, retail, office, industrial and hotel properties comprised of 17,566 residential suites, approximately 17.1 million square feet of commercial leasable space. The Company also owns a 65.0% interest in Morguard Real Estate Investment Trust and a 45.3% effective interest in Morguard North American Residential Real Estate Investment Trust. It also provides advisory and management services to institutional and other investors. The Company's subsidiaries include Morguard Real Estate Investment Trust and Morguard North American Residential Real Estate Investment Trust.

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Morguard Corp > 2020 and Q4 results are in

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Comment by Shirtlessnomoreon Mar 01, 2021 2:48pm

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Post# 32687154

RE:RE:RE:RE:RE:2020 and Q4 results are in

Agreed, and impossible to say whether or not the value of those properties should even be discounted going forward, for all we know they are more valuable in a year, this might sound far fetched but it is entirely possible. Cheers

pierrelebel wrote:
Hi MTLfinecity - Thank you for your reply.

"this book value overstates the value of MRC's properties by at least 20-30%."

Please take a look at the 2020 financial statement. MRC and the trusts have already taken a huge reduction in value of their reak estate assets to reflect the current situation. The current shareholders equity (book value) reflects the discounting.

Nobody expects the shares to trade at full book value in today's environment. However, a discount of 25%-35% would be more appropriate - resulting in shares trading near the $180/$200 range - sometimes this year (2021) or next (2022).

Patience will be rewarded.

By the way do you own any shares in MRC or units on MRT or MRG?