Morguard Corp T.MRC

Morguard vs. Melcor

[Malpeque2]

At least Melcor trading at a fraction of Book,   which under IFRS is supposed to be some reasonable approximation of FMV,  is actually buying back stock unlike Morguard which has about all the same characteristics as Melcor and does NOTHING.

[Northforce13]

Morguard does have a history of buying back stock, if I recall. They might be playing it cautious, because they own a lot of office buildings and shopping centers, and refinancing on those type of buildings probably isn't as easy as it was pre covid, to say the least. Say the value of these buildings declines a bit, plus lenders are no longer willing to lend as much as a percentage of

[NotDrake]

It's probably not possible to buy back because I'd guess there's virtually nothing on the ask. There is little bid so market maker can just keep it pinned in the 100-130 range forever while waiting for a market pullback/correction so that they can pin it at a lower price. I've never held something like this that over the course of months/a year it's down like 99% of days.

[Northforce13]

"I've never held something like this that over the course of months/a year it's down like 99% of days." 1 year ago it was 111.00.  And I guess after declining 99% of the time over the past year it is now 131.00. Thank you for your logical analysis and contribution to the boards.