Professional
Added to YB: 2025-02-12
Pitch date: 2025-02-11
MRT-UN.TO [bullish]
Morguard Real Estate Investment Trust
+12.71%
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 5.46
Price Target
8.50 (+38%)
Dividend
4.14%
EV/EBITDA
14.09
P/E
-11.14
EV/Sales
6.46
Sector
Diversified REITs
Category
value
Investment idea: Morguard REIT
MRT-UN.TO: Trading at 40% of IFRS NAV, 10% implied cap rate. 83% insider ownership. Rai Sahi & George Armoyan buying heavily. Retail assets strong, office mixed. Potential catalysts: privatization, asset sales, Burquitlam Plaza rezoning. Risk: continued stagnation. 50%+ upside potential via privatization.
Read full article (9 min)