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 > Another great quarter

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Comment by nini222on Apr 28, 2023 10:58am

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Post# 35419167

RE:Another great quarter

Indeed. The unit price and movement is bewildering. At least they are buying back shares in 2023 for the very first time....although you have to think if that only makes the issues of the tiny float even worse over time. In my humble opinion, aside from MRC selling off enough of their units to reduce their stake enough to meaningfully increase the float, the only real way to bridge the Price to NAV gap is to meaningfully and consistently raise the dividend to the point where the market cannot ignore it.

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