Professional
Added to YB: 2025-10-07
Pitch date: 2025-10-05
MRT-UN.TO [bullish]
Morguard Real Estate Investment Trust
+8.78%
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 421.5M
Pitch Price
CAD 5.76
Price Target
N/A
Dividend
3.76%
EV/EBITDA
14.48
P/E
-9.30
EV/Sales
6.74
Sector
Diversified REITs
Category
value
3 REITs NCP expects to outperform - Morguard Real Estate Investment Trust
MRT-UN.TO: Diversified REIT trading 50-65% below NAV despite liquid Toronto industrial & some office/retail assets. George Armoyan & Morguard Corp control 86% of units, creating privatization catalyst. Convertible debenture redeemable Jan 2026 may trigger early privatization. Risk: remains underperformer until catalyst materializes.
Read full article (4 min)