Bullboard - Stock Discussion Forum Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures T.MRT.DB.A

Alternate Symbol(s): MGRUF | T.MRT.UN

Morguard Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Company provides real estate advisory services and portfolio management services, specializing in publicly traded equities and fixed-income securities, to institutional clients and private investors. The Company owns a diversified portfolio of 46 retail, office and industrial income-producing... see more

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TSX:MRT.DB.A - Post Discussion

Morguard Real Estate Investment 5 25 convertible unsecured subordinated debentures > MRC hoovering shares

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Post by flamingogold on Mar 30, 2023 3:01pm

MRC hoovering shares

Almost a daily event now, MRC is buying up a wad of MRT shares. This reminds me of SRV.UN when the majority owner attempted a takeover bid in the $3 range during covid. It was challenged by an activist investor who came in with a (higher) competing bid and then started swallowing up as many shares as he could get. The shares are now in the $16-17 range.

The situation is somewhat similar here except we have no takeover offer yet nor activist. Mr. Sahi is quietly hoovering as many shares as he can in the $5 range because he knows these shares are going to be worth a lot more. He, being the majority owner, has a plan here. Once the sellers dry up, he will need to pay up for the remaining allotment.

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