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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 > short interest
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Comment by WEBuffettisbeston Mar 24, 2022 8:31am
140 Views
Post# 34540681

RE:RE:RE:RE:RE:RE:short interest

RE:RE:RE:RE:RE:RE:short interest
Agree that shorts do more due diligence than longs. The retail negativity is a big one, but mrt has to refinance this years debt renewals which have a leverage ratio of more than 80% (due to write downs on properties), meaning that mrt is going to have to pay down some debt on renewal. In 2023, the leverage ratio on renewals is over 60%, mrt likely have to put in money. We are unlikely to see a dividend increase soon, management will want to be sure of the renewals first. I don't understand the shorts either, but they must feel that given the renewals coming, they have time and if there is any issue with a renewal, they will get their payoff. I'm on the other side of the trade, beleiving that management is being conservative so there won't be any problem renewing debt.
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