Morguard Real Estate Investment Trust (T:MRT.UN)
Business Focus: Retail REITs
| Sector: Real Estate | Industry: Commercial REITs |
| Company Contact | |
| Address: | 55 City Centre Drive, Suite 1000 MISSISSAUGA ON L5B 1M3 |
| Tel: | 1-905-2814800 |
| Website: | https://www.morguard.com |
| IR: | See website |
| Key People | ||
| Kuldip Sahi Chairman of the Board, President, Chief Executive Officer, Trustee | Andrew Tamlin Chief Financial Officer | Beverley G. Flynn Senior Vice President, General Counsel, Secretary |
| Paul Miatello Senior Vice President | Angela Sahi Senior Vice President | |
| Business Overview |
| 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 properties in Canada consisting of approximately 8.2 million square feet of leasable space. It owns and manages a diversified portfolio of office, industrial, retail, multi-suite residential and hotel properties in North America. It is a significant sponsor of two real estate investment trusts (REITs): Morguard REIT, a closed-end Trust with a diversified portfolio of Canadian commercial real estate assets; and Morguard North American Residential REIT, an open-end Trust with a diversified portfolio of multi-suite residential assets across North America. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Morguard Real Estate Investment Trust revenues increased 5% to C$255.1M. Net loss decreased 14% to C$74.4M. Revenues reflect Retail segment increase of 9% to C$139.8M. Lower net loss reflects Net Operating Income (NOI)-Retail increase of 8% to C$66.8M, Fair value losses on real estate propert decrease of 12% to C$131.8M (expense). Dividend per share increased from C$0.22 to C$0.24. |
| Employees: | 8 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $1,598M as of Dec 31, 2023 |
| Annual revenue (TTM): | $255.08M as of Dec 31, 2023 |
| EBITDA (TTM): | $120.87M as of Dec 31, 2023 |
| Net annual income (TTM): | -$74.45M as of Dec 31, 2023 |
| Free cash flow (TTM): | $51.12M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,255M as of Dec 31, 2023 |
| Shares outstanding: | 64,272,382 as of Apr 3, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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