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

RE:RE:TD comment on result

[slst]

Ultimately, the trading price is the REAL value.  REITS are all weak at the time.
However, Even TD says that their MRT.un NAV is $7.50 per share and higher than the current trading price

Take that a step further, the Management issued Convertible debentures last year at a conversion price of $7.80.....more out of necessity due to the Covid environment.  The previous conversion price was $20 per share.

They recently reported quarterly Cash flow at 25 cents per share, so $1 per year.   For many years they distributed 8 cents per month or nearly $1 per share.  So what is a reasonable value?.

Financial Statements that are cleared by a Big Accounting firm, have shown large writedowns due to the Covid  impact, and then a little from due to rising interest rates and Real Estate market conditions.  The resulting NET BOOK VALUE (Market Value based on Estimated Property Value) is nearly $18 per share...check that as it may be $16ish per share.

Parent Company has been buying shares in the $5.50 rage and increasing their ownership....so, I think MRT.UN is a decent "BET" at current prices.......These are Great Canadian Real Estate Buildings trading at a third of thier historical purchase price...+well managed and maintained. 

I got in at much higher prices, so I am so biased and was obviously wrong....do your own due diligence.