Added to YB: 2024-01-25
Pitch date: 2024-01-25
MRT-UN.TO [bullish]
Morguard Real Estate Investment Trust
+29.52%
current return
Author Info
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 4.84
Price Target
N/A
Dividend
3.76%
EV/EBITDA
14.48
P/E
-9.30
EV/Sales
6.74
Sector
Diversified REITs
Category
value
Morguard REIT: Will This Value Trap Spring Open After Large Insider Buying?
MRT-UN.TO: Decade of underperformance (-68% unit price) but insiders buying. Retail occupancy solid, redevelopment potential high but lacks financing. Privatization by MRC could mean premium for MRT holders & long-term gains for MRC. Structural issues remain: low dynamism, high capital costs. Armoyan's 10% stake shows confidence but hinders swift privatization due to his MRC investments. Value in eventual organic growth, a long-term prospect.
Read full article (12 min)