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

Short interest as of March

[robbie88]

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : MRT.UN	2021-03-31	2,017,673	83,002	64,130,414	3.15
T : MRT.UN	2021-03-15	1,934,671	-33,489	64,130,414	3.02

Short interests increased by 83K so total shorted shares are over 2M. 
Morguard owns 65% so total float shares are around 20M.
Just wondering how the shorted shares can be covered?

[Shirtlessnomore]

Interesting, this wouldnt be my 1st choice to short lol.

[navigator11]

Makes for an expensive proposition for limited gains...  They have to pay the monthly .02/share in the hope the SP falls further, even though we could argue we already are at fairly depressed levels.  On the flip side, if they decide to cover, the SP should shoot up considering the low average volume... Cheers, Nav

[Shirtlessnomore]

Agree, my thoughts exactly, this is by far the cheapest reit value play out there. I dont know why someone would select this amid the myriad of options. Oh well I guess we'll see. Be good if they burn and have to cover. But then again I'll gladly take some cheapies again. I mean they are already cheapies but cheaper cheapies lol. Cheers

[slst]

If the parent company decides to buy the shares it does not have in a takeover bid, like Brookfield Asset Managment did for its REIT subsidiary, the Shorts will be SLAUGHTERED.  Holders of the Convertibles would not short because, their Debetures are convertible at $20 per share.  Their debt being refinanced or renewed at approximately 3% versues 4% being paid. Not sure why this REIT

[Shirtlessnomore]

I think it's a matter of just not being too popular especially right now with the dividend cut etc. Imo this is just a gift and the last of its breed this discounted, supposing we at some point get to the other side of this nonsense with respect to the government stepping way beyond anyone's comfort level slot of money will re enter the market and these giant discounts will disappear. Jmo

[Shirtlessnomore]

I actually should also add that although many diversified reits have bounced back a fair bit (but many far from 2019) I'm not entirely convinced that where some of them are sitting that it's even warranted. There are alot of unknowns still, it may be that mrt is basically being grouped in with the last bunch of half price stocks due to the malls etc. When you look at the dynamics of what