Morguard North American Residential Real Estate Investment Trust
TSX:MRG.UN

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Morguard North American Residential Real Estate Investment Trust Logo
Morguard North American Residential Real Estate Investment Trust
TSX:MRG.UN
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Price: 18.23 CAD -0.82% Market Closed
Market Cap: 667.9m CAD
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Intrinsic Value

The intrinsic value of one MRG.UN stock under the Base Case scenario is 43.04 CAD. Compared to the current market price of 18.23 CAD, Morguard North American Residential Real Estate Investment Trust is Undervalued by 58%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

MRG.UN Intrinsic Value
43.04 CAD
Undervaluation 58%
Intrinsic Value
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Morguard North American Residential Real Estate Investment Trust

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
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Balance Sheet Decomposition
Morguard North American Residential Real Estate Investment Trust

Current Assets 134.4m
Cash & Short-Term Investments 103.3m
Receivables 11.9m
Other Current Assets 19.2m
Non-Current Assets 4.2B
Long-Term Investments 4.2B
Current Liabilities 334.1m
Accounts Payable 58m
Accrued Liabilities 8.7m
Other Current Liabilities 267.4m
Non-Current Liabilities 2.1B
Long-Term Debt 1.4B
Other Non-Current Liabilities 727.2m
Efficiency

Earnings Waterfall
Morguard North American Residential Real Estate Investment Trust

Revenue
341.3m CAD
Cost of Revenue
-137.6m CAD
Gross Profit
203.7m CAD
Operating Expenses
-21.4m CAD
Operating Income
182.3m CAD
Other Expenses
-103.9m CAD
Net Income
78.4m CAD

Free Cash Flow Analysis
Morguard North American Residential Real Estate Investment Trust

Last Value
3-Years Average
FCF Margin
Conversion Rate
Fundamental Scores

MRG.UN Profitability Score
Profitability Due Diligence

Morguard North American Residential Real Estate Investment Trust's profitability score is 63/100. The higher the profitability score, the more profitable the company is.

63/100
Profitability
Score

Morguard North American Residential Real Estate Investment Trust's profitability score is 63/100. The higher the profitability score, the more profitable the company is.

MRG.UN Solvency Score
Solvency Due Diligence

Morguard North American Residential Real Estate Investment Trust's solvency score is 27/100. The higher the solvency score, the more solvent the company is.

Long-Term Solvency
Low D/E
Short-Term Solvency
Positive Net Debt
27/100
Solvency
Score

Morguard North American Residential Real Estate Investment Trust's solvency score is 27/100. The higher the solvency score, the more solvent the company is.

Wall St
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MRG.UN Price Targets Summary
Morguard North American Residential Real Estate Investment Trust

Wall Street analysts forecast MRG.UN stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for MRG.UN is 22.78 CAD with a low forecast of 22.22 CAD and a high forecast of 24.15 CAD.

Lowest
Price Target
22.22 CAD
22% Upside
Average
Price Target
22.78 CAD
25% Upside
Highest
Price Target
24.15 CAD
32% Upside
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Dividends

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Shareholder Yield

Current shareholder yield for MRG.UN is .

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Profile

Morguard North American Residential Real Estate Investment Trust Logo
Morguard North American Residential Real Estate Investment Trust

Country

Canada

Industry

Real Estate

Market Cap

667.9m CAD

Dividend Yield

4.71%

Description

Morguard North American Residential REIT is an open-ended real estate investment trust. The company is headquartered in Mississauga, Ontario. The company went IPO on 2012-04-13. The objectives of the REIT are to generate stable and growing cash distributions on a tax-efficient basis; enhance the value of its assets and maximize long-term unit value through active asset and property management, and expand the asset base of the REIT and increase adjusted funds from operations per unit primarily through acquisitions and improvement of its properties. The REIT owns a diversified real estate portfolio of approximately 43 multi-suite residential properties in North America. The real estate portfolio consists of approximately 16 Canadian residential apartment communities located in Alberta and Ontario and 27 United States low-rise and mid-rise apartment communities located in Colorado, Florida, Georgia, Illinois, Louisiana, Maryland, North Carolina, Texas and Virginia consisting of 12,255 residential suites.

Contact

ONTARIO
Mississauga
1000 - 55 City Centre Drive
+19052815923.0
www.morguard.com

IPO

2012-04-13

Employees

-

Officers

Chairman & CEO
Mr. Kuldip Rai Sahi FCA, FCGA, FCPA
Chief Financial Officer
Mr. Christopher A. Newman
Senior VP, General Counsel & Secretary
Ms. Beverley Gail Flynn L.L.B.
Senior Vice President of U.S. Operations
Mr. John Talano
Senior Vice President
Ms. Angela Sahi CPA

See Also

Discover More
What is the Intrinsic Value of one MRG.UN stock?

The intrinsic value of one MRG.UN stock under the Base Case scenario is 43.04 CAD.

Is MRG.UN stock undervalued or overvalued?

Compared to the current market price of 18.23 CAD, Morguard North American Residential Real Estate Investment Trust is Undervalued by 58%.

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