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Morguard Real Estate Investment Trust (T:MRT.UN)

Business Focus: Retail REITs

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Sector:  Financials Industry:  Commercial REITs
 
See Regulatory Filings on SEDAR
Company Contact
Address: 1000-55 City Centre Dr
MISSISSAUGA ON L5B 1M3
Tel: N/A
Website: https://www.morguard.com/investor-relations/morguard-reit
IR: See website
Key People
Kuldip Rai Sahi
President, Chief Executive Officer, Non-independent Trustee
Andrew Tamlin
Chief Financial Officer
Beverley G. Flynn
Vice President, General Counsel, Secretary
John Levac
Vice President - Asset Management
Paul Miatello
Vice President
Robert D. Wright
Vice President
Business Overview
Morguard Real Estate Investment Trust (the Trust) is a Canada-based closed-end trust. The Trust's objective is to accumulate a Canadian portfolio of real estate assets and then manage the portfolio to generate steady, dependable returns to unitholders. It owns a real estate portfolio of approximately 50 commercial properties consisting of approximately nine million square feet of gross leasable area located in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. The retail portfolio includes two categories of properties: enclosed full-scale, regional shopping centers that are dominant in their respective markets, and neighborhood and community shopping centers that are primarily anchored by food retailers, discount department stores and banking institutions. The Trust's office portfolio is focused on properties in Canadian urban centers. Its property portfolio comprises approximately 30 office and industrial properties, and over 20 retail properties.
Financial Overview
For the six months ended 30 June 2019, Morguard Real Estate Inv. revenues increased less than 1% to C$137.5M. Net income decreased 80% to C$12.2M. Revenues reflect Retail segment increase of 1% to C$74M, also reflect Office segment decrease of 1% to C$60.9M, FFO per Share (Basic) decrease of 3% to C$0.37, FFO per Share (Diluted) decrease of 3% to C$0.36. Net income was partially offset by Net Operating Income (NOI)-Retail decrease of 1% to C$38.4M.
Employees: 10 as of Dec 31, 2018
Reporting Currency: Canadian Dollars
Enterprise value: $2,010M as of Jun 30, 2019
Annual revenue (TTM): $276.66M as of Jun 30, 2019
EBITDA (TTM): $146.87M as of Jun 30, 2019
Net annual income (TTM): $24.19M as of Jun 30, 2019
Free cash flow (TTM): $25.15M as of Jun 30, 2019
Net Debt Last Fiscal Year: $1,343M as of Jun 30, 2019
Shares outstanding: 60,709,658 as of Aug 2, 2019
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization