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

Alternate Symbol(s): MGRUF | T.MRT.UN

Real Estate REIT - Diversified

Morguard Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Company provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors. The Company owns a diversified portfolio of 46 retail, office and industrial income-producing properties in Canada consisting of approximately 8.2 million square feet of leasable space. It owns and manages a diversified portfolio of office, industrial, retail, multi-suite residential and hotel properties in North America. It is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT, a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT, an open-end Trust with a diversified portfolio of multi-suite residential assets across North America.

TSX:MRT.DB.A - Post by User

Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures

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Post by HermannHalleron Apr 28, 2021 5:11pm

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Post# 33087544

Q1 - no surprises

Nice to see a clean quarter. FFO (fully diluted) 29c vs analyst estimates of 26c. Book value per share $18.05, debt to assets slightly improved from year end.

The valuation is so low it's almost comical. Trading at a 70% discount to book. Even Morguard North America, for comparison, had basically the same level of FFO and trades at $15.65. And that one is cheap too. Haha.

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