Professional
Added to YB: 2024-09-17
Pitch date: 2024-09-15
MRT-UN.TO [bullish]
Morguard Real Estate Investment Trust
+16.42%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
Company Info
The Trust is a closed-end real estate investment trust, which owns a diversified portfolio of 45 retail, office and industrial income producing properties in Canada with a book value of $2.
Market Cap
CAD 379.3M
Pitch Price
CAD 5.28
Price Target
N/A
Dividend
4.14%
EV/EBITDA
14.09
P/E
-11.14
EV/Sales
6.46
Sector
Diversified REITs
Category
value
Laggard REITs that offer opportunity - Morguard Real Estate Investment Trust
MRT-UN.TO: Cheap REIT at large NAV discount. Retail-heavy portfolio (St. Laurent mall worth ~entire market cap). Office assets undervalued. High insider ownership (Sahi, Armoyan). Potential privatization catalyst like Melcor REIT's 46% premium buyout. Risks: continued lag, low 4% yield. Upside: falling rates, asset sales, buybacks.
Read full article (3 min)