Morguard Real Estate Investment Trust

Morguard Real Estate Investment Trust

MGRUF
Morguard Real Estate Investment TrustUS flagOther OTC
4.64
USD
- -
- -
309.84MMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
4.41
4.8
4.71
4.62
4.6
4.55
4.5
4.09
3.76
3.78
3.97
4.03
3.67
3.88
Basic EPS, GAAP
3.35
1.83
0.43
0.94
1.11
1.2
0.24
-5.75
0.08
-1.34
-1.16
-0.92
-0.25
-0.52
Free Cash Flow per Basic Share
1.41
1.68
1.59
1.9
1.66
1.54
1.47
0.76
1.25
1.15
1.03
0.86
0.62
0.68
Dividend per Share
0.95
0.95
0.95
0.94
0.93
0.95
0.95
0.35
0.26
0.25
0.24
0.24
0.06
0.17
Book Value per Share
24.47
25.84
25.16
25.49
25.72
25.93
25.22
18.54
17.75
16.16
14.75
13.59
13.09
13.32
Tangible Book Value per Share
24.47
25.85
25.19
25.6
25.83
26.03
25.32
18.64
17.96
16.37
14.96
13.76
13.27
13.49
Basic Weighted Avg Shares
63
62
62
61
61
61
61
62
64
64
64
64
65
64
Sales/Revenue/Turnover
280
298
291
281
279
276
273
254
241
243
255
259
239
249
Operating Margin (%)
56.05
55.06
55.52
55.49
54.71
53.28
53.32
47.33
48.96
48.79
47.85
48.09
45.06
45.41
Depreciation Expense
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Net Income, GAAP
212
114
27
57
67
73
15
-357
5
-86
-74
-59
-17
-33
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Profit Margin (%)
75.95
38.16
9.15
20.38
24.15
26.41
5.43
-140.85
2.02
-35.49
-29.19
-22.7
-6.92
-13.31
Working Capital
-188
-28
-90
-102
-162
-273
-290
-429
-228
-388
-446
-345
-574
-387
LT Debt
1,170
1,258
1,230
1,193
1,158
1,082
1,084
929
1,085
906
849
917
695
882
Total Equity
1,553
1,607
1,556
1,555
1,566
1,580
1,537
1,158
1,152
1,051
961
884
865
868
Return on Invested Capital (%)
5.69
5.6
5.53
5.32
5.22
5.09
5.01
- -
4.76
- -
- -
- -
- -
- -
Return on Capital (%)
9.8
5.91
2.84
3.81
4.14
4.4
2.46
- -
2.28
- -
- -
- -
- -
3.88
Return on Common Equity (%)
14.23
7.21
1.68
3.69
4.33
4.66
0.96
-26.65
0.43
-7.91
-7.5
-6.46
-1.92
-3.78

Capital Structure

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
316
320
368
LT Borrowings
900
904
866
LT Finance Leases
16
16
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
64
65
65
Market Capitalization
352
357
371

Working Capital

FRC

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
19
28
34
Cash, Cash Equivalents & STI
8
7
7
Accounts Receivable, Net
3
4
6
Inventories
- -
- -
- -
Total Current Liabilities
365
374
421
Payables & Accruals
48
54
53
ST Debt
316
320
368
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-5.39%
-5.6%
-2.21%
Free Cash Flow
-4.48%
1.85%
-26.78%
Net Income, GAAP
-451.73%
-414.04%
-71.85%
Sales/Revenue/Turnover
-1.86%
-1.06%
-7.65%
Total Cash Common Dividend
-16.96%
-21.14%
-75.29%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
64
64
63
67
259
2025
60
58
63
- -
239
2026
60
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.57
-0.03
0.24
- -
-0.92
2025
-0.18
- -
- -
- -
-0.25
2026
0.09
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.06
0.06
- -
0.24
2025
0.02
- -
- -
- -
0.06
2026
0.01
- -
- -
- -
- -

Company Description

APIChat
CEO
Kuldip Rai Sahi
Full Time Employees
7
Sector
Real Estate
Industry
REIT - Diversified
Address
55 City Centre Drive Mississauga ON Canada L5B 1M3
IPO Date
Sep 15, 2009
Business
Morguard Real Estate Investment Trust (TSX: MRT.UN; OTC: MGRUF) is a closed-end real estate investment trust that owns, manages and invests in a diversified portfolio of high-quality commercial properties across Canada. The Trust's portfolio comprises 45 properties totaling approximately 8.1 million square feet of gross leasable area in six provinces, primarily consisting of well-located office properties in major urban centers; large enclosed full-scale regional shopping malls dominant in their markets; neighborhood and community shopping centers; and a small group of industrial properties, with total real estate assets valued at $2.2 billion as of September 30, 2025. It provides services including value creation, asset management and development, property management and leasing, tenant satisfaction initiatives, access to capital, lifecycle management of assets and sustainable operations. Founded in 1997 and headquartered in Mississauga, Ontario, the Trust operates exclusively within the Canadian commercial real estate sector, targeting institutional and retail investors seeking stable cash flows and long-term capital appreciation through active portfolio management. Morguard Corporation, its parent and significant sponsor, increased its ownership position in the Trust to approximately 82.30% as of March 31, 2025, by acquiring 1,307,418 units between October 11, 2024, and March 31, 2025, through Toronto Stock Exchange transactions and the distribution reinvestment plan for total consideration of about $7.2 million.

Company News

APIChat
  • Morguard Real Estate Investment Trust (MRT.UN:CA) Q1 2026 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (OTCMKTS:MGRUF) Short Interest Update

  • Morguard Real Estate Investment Trust (MRT.UN:CA) Q4 2025 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (OTCMKTS:MGRUF) Shares Up 2.7% – Still a Buy?

  • Morguard Real Estate Investment Trust (MRT.UN:CA) Q3 2025 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q2 2025 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q1 2025 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q4 2024 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q3 2024 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q2 2024 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q1 2024 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q4 2023 Earnings Call Transcript

  • Morguard Real Estate Investment Trust (MGRUF) Q3 2023 Earnings Call Transcript