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TSE:MRT.UN

Morguard Real Estate Inv Trust (MRT.UN.TO)

6.81
+0.04 (0.59%)
as of Jun 12, 2026, 7:59:58 pm Market Open.
71 watching
0
DON'T BUY
Historically has traded at a slight discount. Had a great run recently and is probably fully valued.
HOLD
Commercial diversified name. Is at full and fair value.
BUY
Are earnings likely to catch up to the distribution? Likely never. In the case of REITs there is very poor earnings quality. Cash flow generated is very different from cash flow generated. Ignore earnings and focus on distributable cash flow. This company’s distribution is sustainable. Good quality name with good quality assets, but there is nothing overly special about them. At these levels you are probably going to get a 12%-13% total return. Commercial/diversified.
BUY
Diversified commercial REIT. Relative to other names in the same space, it is reasonable value. Can continue buying properties at higher values because financing rates have come down. Came out with decent results and shot up over last 4 or 5 sessions.
BUY
Diversified commercial REIT. Relative to other names in the same space, it is reasonable value. Can continue buying properties at higher values because financing rates have come down. Came out with decent results and shot up over last 4 or 5 sessions.
BUY ON WEAKNESS
Excellent liquidity situation. Payout ratio is sustainable. Was a discount for management that was probably warranted but is now overdone. Have done very well over the last couple of years. Would like to buy it in the $8 range. 7.5% distribution is very safe.
HOLD
(Market Call Minute.) Very good balance sheet and good liquidity but fundamentally you want to look for another name once things turn.
BUY
Commercial diversified. Management is heavily invested. Doing all the right things. Good quality.
BUY
Commercial diversified with offices, industrial and retail. Suffered earlier from losing Wal-Mart as a tenant in a couple of its properties. There was an issue with the high leverage on its balance sheet. Management has done a fantastic job of repositioning.
BUY
Commercial diversified. Recently sold a large portfolio of industrials and replaced it with office in the Ottawa market. Some improving fundamentals in retirement of debt. Things look good.
COMMENT
Selling off 65% of their industrial portfolio and putting this into office. Management is making changes for the long-term future.
COMMENT
Office, industrial and retail. Good exposure to western Canada. Runs at a slightly higher and unfavourable leverage. Have been some vacancy issues. Recently bought some good quality office in Ottawa. May lease out their industrial property. Have paid down some of their debt. Some positive momentum.
BUY
Just announced a major acquisition of an office portfolio that’s well leased with a major pension fund. The type of transaction that will move them in the right direction. Refinanced debt at better rates. Trading at a discount to its peers.
COMMENT
Payout ratio is higher than he likes. All real estate assets are in favour right now, so down the road it could be taken over. Prefers IPC US Income Commercial (IUR.UN). (See Top Picks.)
DON'T BUY
Has an underperform rating on this one. They have a higher than average debt leverage. Have been experiencing some operational difficulties.
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