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 > RBC target price increased to $24.00

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Comment by HermannHalleron Jul 27, 2023 11:24am

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Post# 35559621

RE:RE:RBC target price increased to $24.00

I think they 'must' raise the distribution, as the AFFO payout right now is just over 50%, and trusts have to pay out the majority of their income. Or they could pay a special distribution at year end.

They probably want to buy back as many units as possible before they do that. The buyback appears to be turned off this week, I guess around reporting. So volume is light. Hopefully units will start to move up next week when the NCIB resumes.

My biggest REIT position.

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