Morguard Corporation

MRC-T

Analysis and Opinions about MRC-T

Signal
Opinion
Expert
SELL
SELL
November 4, 2019

They manage two REITs. The Corp is the name you want to own. It is a $200 stock. They are in sectors that are tough sectors to operate in – Office and Retail. We need less and less office space. MRT.U is the high dividend version of the corporation. MRG-U-T is their North American REIT.

They manage two REITs. The Corp is the name you want to own. It is a $200 stock. They are in sectors that are tough sectors to operate in – Office and Retail. We need less and less office space. MRT.U is the high dividend version of the corporation. MRG-U-T is their North American REIT.

Andrew Moffs
Senior Vice President and Portfolio Manager , Vision Capital
Price
$200.000
Owned
Unknown
COMMENT
COMMENT
July 31, 2019

The REIT has been challenged because of the types of real estate they hold in the retail space. They also hold office space that is also challenged. It is externally managed by Morguard Corp and he feels the fees being collected do not put them in synergy. You would be better to hold the parent -- MRC-T -- as it trades at a discount to book as well.

The REIT has been challenged because of the types of real estate they hold in the retail space. They also hold office space that is also challenged. It is externally managed by Morguard Corp and he feels the fees being collected do not put them in synergy. You would be better to hold the parent -- MRC-T -- as it trades at a discount to book as well.

Jeffrey F. Olin
President & CEO, Vision Capital Corporation
Price
$184.010
Owned
_N/A
DON'T BUY
DON'T BUY
July 5, 2019
Is this a take-out? Tough to call take-outs, though he doesn't see it happening here. It's been rangebound this year, but has fallen from $19 from early 2017. They're in a tough sector. Buy elsewhere in this sector.
Is this a take-out? Tough to call take-outs, though he doesn't see it happening here. It's been rangebound this year, but has fallen from $19 from early 2017. They're in a tough sector. Buy elsewhere in this sector.
Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
Price
$0.000
Owned
Unknown
WEAK BUY
WEAK BUY
May 30, 2019
Trading at significant discount to NAV. Not getting a lot of compensation while you wait for share price appreciation. CEO is brilliant. Safe play for long term.
Trading at significant discount to NAV. Not getting a lot of compensation while you wait for share price appreciation. CEO is brilliant. Safe play for long term.
Michelle Wearing
Portfolio Manager, Starlight Capital
Price
$189.000
Owned
No
PAST TOP PICK
PAST TOP PICK
May 17, 2019
(A Top Pick Jul 10/18, Up 14%) He's owend this since 2003. Unlike REITs, Morguard keeps buying back stock with all this free cash flow coming in and don't dilute shareholders. They hold a good diversity of properties across North America. They do very well with distressed property prices.
(A Top Pick Jul 10/18, Up 14%) He's owend this since 2003. Unlike REITs, Morguard keeps buying back stock with all this free cash flow coming in and don't dilute shareholders. They hold a good diversity of properties across North America. They do very well with distressed property prices.
Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$190.080
Owned
Yes
TOP PICK
TOP PICK
March 26, 2019
Essentuially, you can buy a stock He's long known the CEO***. Problem, it's hardly traded in tiny share amounts. He buys it on dips. (Analysts’ price target is $200.00)
Essentuially, you can buy a stock He's long known the CEO***. Problem, it's hardly traded in tiny share amounts. He buys it on dips. (Analysts’ price target is $200.00)
David Baskin
President, Baskin Wealth Management
Price
$197.980
Owned
Yes
BUY
BUY
September 20, 2018

One of the largest Real Estate in NA. inside ownership that maintains a large control of the company. It is so cheap it hurts. If they sold all their RE tomorrow to say CPP they would get close to $300/share. They are buying back stock. He is not selling any share. It is illiquid, but the value is there.

Morguard Corporation (MRC-T)
September 20, 2018

One of the largest Real Estate in NA. inside ownership that maintains a large control of the company. It is so cheap it hurts. If they sold all their RE tomorrow to say CPP they would get close to $300/share. They are buying back stock. He is not selling any share. It is illiquid, but the value is there.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$175.070
Owned
Yes
BUY
BUY
September 6, 2018

They built a lot in the GTA. Rents have gone up.

They built a lot in the GTA. Rents have gone up.

Tim Regan
Managing Director, Kingwest & Company
Price
$169.310
Owned
Yes
COMMENT
COMMENT
August 29, 2018

Warning: You're in for the long term because it's very illiquid stock. A Hotel California where you check in anytime, but you can never leave. He loves this stock--great value. Companies like this either go private, is bought or it gradually rises in time. Trading at only half-book--incredible value.

Warning: You're in for the long term because it's very illiquid stock. A Hotel California where you check in anytime, but you can never leave. He loves this stock--great value. Companies like this either go private, is bought or it gradually rises in time. Trading at only half-book--incredible value.

David Baskin
President, Baskin Wealth Management
Price
$170.010
Owned
Unknown
TOP PICK
TOP PICK
July 10, 2018

It doesn't trade a lot, but it's a bargain. A massive real estate company in Canada with holdings across various sectors, from apartments to offices. It trades at a huge discount from its overall NAV. They've compounded their book value by
double digits over the last five years. They've been buying back stock. Buy this instead of actual real estate. (Analysts' price target: $205.00)

It doesn't trade a lot, but it's a bargain. A massive real estate company in Canada with holdings across various sectors, from apartments to offices. It trades at a huge discount from its overall NAV. They've compounded their book value by
double digits over the last five years. They've been buying back stock. Buy this instead of actual real estate. (Analysts' price target: $205.00)

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$169.000
Owned
Yes
COMMENT
COMMENT
October 17, 2017

This still has room to grow. A splendid company with a great team of people. Has some very long-term leases of properties as well. A very, very strong company that knows its business. Thinks it will carry on expanding very carefully. One of his largest holdings.

This still has room to grow. A splendid company with a great team of people. Has some very long-term leases of properties as well. A very, very strong company that knows its business. Thinks it will carry on expanding very carefully. One of his largest holdings.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$194.000
Owned
Yes
PAST TOP PICK
PAST TOP PICK
October 16, 2017

(A Top Pick Nov 3/16. Up 12%.) A long-term holding for him. The company likes to buy distressed assets and real estate when it has been beaten up. They are working to do things with Temple Hotels in Alberta. An undervalued net asset value play. Feels the company is worth $240-$250 a share.

(A Top Pick Nov 3/16. Up 12%.) A long-term holding for him. The company likes to buy distressed assets and real estate when it has been beaten up. They are working to do things with Temple Hotels in Alberta. An undervalued net asset value play. Feels the company is worth $240-$250 a share.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$192.000
Owned
Yes
PAST TOP PICK
PAST TOP PICK
January 4, 2017

(A Top Pick Nov 18/15. Up 24.04%.) A very illiquid stock and pretty much trades by appointment. This is one that when you are buying, you never put in a market order, always put in a limit order. It has great assets. The NAV is probably $210-$220 a share.

(A Top Pick Nov 18/15. Up 24.04%.) A very illiquid stock and pretty much trades by appointment. This is one that when you are buying, you never put in a market order, always put in a limit order. It has great assets. The NAV is probably $210-$220 a share.

David Baskin
President, Baskin Wealth Management
Price
$175.740
Owned
Yes
TOP PICK
TOP PICK
November 3, 2016

Why buy Morguard North American REIT (MRG.UN-T), when this, as the parent, has more optionality and doesn’t have to pay out 95% of its cash flow. This is trading at a massive discount to its real estate empire. Thinks that pre-tax it is worth $250 a share. CEO has been buying back stock, as well as owning a significant portion. Dividend yield of 0.35%.

Why buy Morguard North American REIT (MRG.UN-T), when this, as the parent, has more optionality and doesn’t have to pay out 95% of its cash flow. This is trading at a massive discount to its real estate empire. Thinks that pre-tax it is worth $250 a share. CEO has been buying back stock, as well as owning a significant portion. Dividend yield of 0.35%.

Barry Schwartz
CIO & Portfolio Manager, Baskin Wealth Management
Price
$171.870
Owned
Yes
HOLD
HOLD
August 19, 2016

One of his best holdings. This is an amazing company in real estate. A special blue-chip. It has a really good team working for it.

One of his best holdings. This is an amazing company in real estate. A special blue-chip. It has a really good team working for it.

Michael Smedley
Exec VP & Chief Investment Officer, Morgan Meighan & Associates
Price
$180.610
Owned
Yes
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