Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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

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

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

Post by incomedreamer11on Oct 01, 2021 9:24am
220 Views
Post# 33951485

TD lowered target price

TD lowered target priceMorguard REIT (MRT.un-T) $6.50 from $&.00   HOLD .

Our $6.50 target price is based on a 9.0x-9.5x multiple to our 2022E AFFO. The multiple is at the lower end of the range that we use to derive the target prices of its peers in our coverage universe, given its Calgary office and enclosed mall exposure. We believe that Morguard should trade at a discount to its peers given its smaller public float, trading liquidity, and partially external property management structure

Morguard is subject to risks common to commercial real estate investing.
Key risks to its target price include a prolonged impact of COVID-19, local and general economic conditions; competition for tenants; tenant credit risk; new supply; operating cost pressures; changes in interest rates; and availability of long-term mortgage funds.

In addition to the risks common to real estate, key risks to our target price include: 1) risks related to its development assets; 2) ongoing re-leasing risk at its former Target and Sears spaces; and 3) approximately 69% of the REIT's units are owned by Morguard Corp., which can have significant influence.
<< Previous
Bullboard Posts
Next >>