Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures T.MRG.DB.B

Alternate Symbol(s): MNARF | T.MRG.UN

Morguard North American Residential Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The REIT owns, through a limited partnership, interests in Canadian residential apartment communities, located in Alberta and Ontario, and U.S. residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia, and Maryland. The objectives of the REIT are to generate stable and growing cash distributions to Unitholders on a tax-efficient basis; to enhance the value of its portfolio and the long-term value of its units through active asset and property management; and to expand the REIT's asset base, primarily through acquisitions and property improvements. The REIT's multi-suite residential property portfolio consists of about 16 Canadian properties and 27 United States properties, having a total of approximately 13,089 residential suites and 239,500 square feet of commercial area.

TSX:MRG.DB.B - Post by User

Morguard North American Residential Real Estate Inv 6 00 Convertible Unsecured Subordinated Debentures > Amazing Q2 results !!

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Post by SusanBollandon Jul 26, 2022 4:48pm

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Post# 34852158

Amazing Q2 results !!

As expected the results were amazing .... Occupancy up in Canada and the U.S. ... I believe an all time high in FFO of .35 cents, translating into a 46.7% payout ratio ..... Debt is a very low 35.6% .......

Not only did they not have to write down the value of their properties under IFRS because of interest rates and Cap rates but they showed an INCREASE in value of $109 million !!

Did an acquisition in Illinois of 350 apartment units that is supposed to close in Q3

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