MRG.UN Stock Overview
The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario.
Morguard North American Residential Real Estate Investment Trust Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||CA$16.38|
|52 Week High||CA$20.52|
|52 Week Low||CA$15.85|
|1 Month Change||-7.93%|
|3 Month Change||-17.31%|
|1 Year Change||-2.50%|
|3 Year Change||-11.46%|
|5 Year Change||7.06%|
|Change since IPO||55.70%|
Recent News & Updates
|MRG.UN||CA REITs||CA Market|
Return vs Industry: MRG.UN exceeded the Canadian REITs industry which returned -12.4% over the past year.
Return vs Market: MRG.UN exceeded the Canadian Market which returned -3.7% over the past year.
|MRG.UN Average Weekly Movement||3.7%|
|REITs Industry Average Movement||3.8%|
|Market Average Movement||10.1%|
|10% most volatile stocks in CA Market||17.3%|
|10% least volatile stocks in CA Market||4.4%|
Stable Share Price: MRG.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: MRG.UN's weekly volatility (4%) has been stable over the past year.
About the Company
The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management.
Morguard North American Residential Real Estate Investment Trust Fundamentals Summary
|MRG.UN fundamental statistics|
Is MRG.UN overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MRG.UN income statement (TTM)|
|Cost of Revenue||CA$118.77m|
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
Jul 26, 2022
|Earnings per share (EPS)||9.66|
|Net Profit Margin||148.09%|
How did MRG.UN perform over the long term?See historical performance and comparison
4.3%Current Dividend Yield
Is MRG.UN undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for MRG.UN?
Other financial metrics that can be useful for relative valuation.
|What is MRG.UN's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does MRG.UN's PE Ratio compare to its peers?
|MRG.UN PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
HOM.UN BSR Real Estate Investment Trust
MI.UN Minto Apartment Real Estate Investment Trust
MHC.U Flagship Communities Real Estate Investment Trust
BEI.UN Boardwalk Real Estate Investment Trust
MRG.UN Morguard North American Residential Real Estate Investment Trust
Price-To-Earnings vs Peers: MRG.UN is good value based on its Price-To-Earnings Ratio (1.7x) compared to the peer average (3.5x).
Price to Earnings Ratio vs Industry
How does MRG.UN's PE Ratio compare vs other companies in the CA REITs Industry?
Price-To-Earnings vs Industry: MRG.UN is good value based on its Price-To-Earnings Ratio (1.7x) compared to the Canadian REITs industry average (4.7x)
Price to Earnings Ratio vs Fair Ratio
What is MRG.UN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||1.7x|
|Fair PE Ratio||n/a|
Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MRG.UN's Price-To-Earnings Fair Ratio for valuation analysis.
Share Price vs Fair Value
What is the Fair Price of MRG.UN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: MRG.UN (CA$16.38) is trading below our estimate of fair value (CA$35.76)
Significantly Below Fair Value: MRG.UN is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MRG.UN's PEG Ratio to determine if it is good value.
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How is Morguard North American Residential Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Future Growth Score0/6
Future Growth Score 0/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if MRG.UN's forecast earnings growth is above the savings rate (1.6%).
Earnings vs Market: Insufficient data to determine if MRG.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if MRG.UN's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: MRG.UN's revenue (3.7% per year) is forecast to grow slower than the Canadian market (6.4% per year).
High Growth Revenue: MRG.UN's revenue (3.7% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MRG.UN's Return on Equity is forecast to be high in 3 years time
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How has Morguard North American Residential Real Estate Investment Trust performed over the past 5 years?
Past Performance Score5/6
Past Performance Score 5/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MRG.UN has a large one-off gain of CA$507.9M impacting its March 31 2022 financial results.
Growing Profit Margin: MRG.UN's current net profit margins are higher than last year (44.5%).
Past Earnings Growth Analysis
Earnings Trend: MRG.UN's earnings have grown by 11.6% per year over the past 5 years.
Accelerating Growth: MRG.UN's earnings growth over the past year (256.9%) exceeds its 5-year average (11.6% per year).
Earnings vs Industry: MRG.UN earnings growth over the past year (256.9%) exceeded the REITs industry 163.2%.
Return on Equity
High ROE: MRG.UN's Return on Equity (22.7%) is considered high.
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How is Morguard North American Residential Real Estate Investment Trust's financial position?
Financial Health Score1/6
Financial Health Score 1/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: MRG.UN's short term assets (CA$239.5M) do not cover its short term liabilities (CA$316.9M).
Long Term Liabilities: MRG.UN's short term assets (CA$239.5M) do not cover its long term liabilities (CA$1.7B).
Debt to Equity History and Analysis
Debt Level: MRG.UN's net debt to equity ratio (95.2%) is considered high.
Reducing Debt: MRG.UN's debt to equity ratio has reduced from 191.7% to 97% over the past 5 years.
Debt Coverage: MRG.UN's debt is not well covered by operating cash flow (3.7%).
Interest Coverage: MRG.UN's interest payments on its debt are not well covered by EBIT (1.8x coverage).
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What is Morguard North American Residential Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Future Dividend Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MRG.UN's dividend (4.27%) is higher than the bottom 25% of dividend payers in the Canadian market (2.02%).
High Dividend: MRG.UN's dividend (4.27%) is low compared to the top 25% of dividend payers in the Canadian market (5.35%).
Stability and Growth of Payments
Stable Dividend: MRG.UN's dividends per share have been stable in the past 10 years.
Growing Dividend: MRG.UN's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (987.5%), MRG.UN's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonable cash payout ratio (64.1%), MRG.UN's dividend payments are covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Kuldip Sahi (74 yo)
Mr. Kuldip Rai Sahi, FCA, FCPA, FCGA, has been the Chief Executive Officer of Morguard Real Estate Investment Trust since July 31, 2001 and has been its President since October 21, 2005 and has been its Tr...
CEO Compensation Analysis
Compensation vs Market: Kuldip's total compensation ($USD399.10K) is below average for companies of similar size in the Canadian market ($USD1.59M).
Compensation vs Earnings: Kuldip's compensation has been consistent with company performance over the past year.
Experienced Management: MRG.UN's management team is considered experienced (4.4 years average tenure).
Experienced Board: MRG.UN's board of directors are seasoned and experienced ( 10.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MRG.UN insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Morguard North American Residential Real Estate Investment Trust's employee growth, exchange listings and data sources
- Name: Morguard North American Residential Real Estate Investment Trust
- Ticker: MRG.UN
- Exchange: TSX
- Founded: NaN
- Industry: Residential REITs
- Sector: Real Estate
- Implied Market Cap: CA$921.532m
- Market Cap: CA$640.107m
- Shares outstanding: 56.30m
- Website: https://www.morguard.com
- Morguard North American Residential Real Estate Investment Trust
- 55 City Centre Drive
- Suite 1000
- L5B 1M3
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/06/30 00:00|
|End of Day Share Price||2022/06/30 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.