MORGUARD NORTH AMERICAN RESIDENTIAL REAL ESTATE INVESTMENT TRUST

Morguard North American Residential Real Estate Investment Trust

MRG.UN

CA61761E1007

Residential REITs

Delayed Toronto S.E. Other stock markets 20:46:58 15/05/2024 BST			5-day change	1st Jan Change
16.05 ^CAD	+0.06%		-0.43%	+8.67%

05-14	Correction: -- Morguard Developments Brief: Q1 Revenue increased to $49.75 million compared to $36.08 million in Q1-2023, and funds from operations was $13.75 million compared to $7.05 million last year	MT
05-14	Morguard Corporation Brief: Q1 Revenue increased to $49.75 million compared to $36.08 million in Q1-2023, and funds from operations was $13.75 million compared to $7.05 million last year	MT

Morguard North American Residential Real Estate Investment Trust Reports Earnings Results for the First Quarter Ended March 31, 2024

April 30, 2024 at 09:22 pm

Morguard North American Residential Real Estate Investment Trust reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was CAD 84.76 million compared to CAD 79.65 million a year ago. Net income was CAD 25.73 million compared to CAD 29.5 million a year ago.

Latest news about Morguard North American Residential Real Estate Investment Trust

Correction: -- Morguard Developments Brief: Q1 Revenue increased to $49.75 million compared to $36.08 million in Q1-2023, and funds from operations was $13.75 million compared to $7.05 million last year	05-14	MT
Morguard Corporation Brief: Q1 Revenue increased to $49.75 million compared to $36.08 million in Q1-2023, and funds from operations was $13.75 million compared to $7.05 million last year	05-14	MT
Morguard Corporation Swings To Q1 Profit On Hotel Property Sales	05-07	MT
Morguard Corporation Brief: Adjusted NOI increased by $1.8 million, or 1.3%, to $138.0 million for the three months ended March 31, 2024	05-07	MT
Morguard Corporation Brief: Net income increased by $148.1 million to $116.8 million for the three months ended March 31, 2024	05-07	MT
Transcript : Morguard North American Residential Real Estate Investment Trust, Q1 2024 Earnings Call, May 02, 2024	05-02
Morguard North American Residential REIT's Q1 Net Income Down Vs a Year Ago, But Cites Other Positive Highlights	04-30	MT
Morguard North American Residential Real Estate Investment Trust Reports Earnings Results for the First Quarter Ended March 31, 2024	04-30	CI
Morguard North American Residential Real Estate Investment Trust Declares Distribution for the Month of April 2024, Payable on May 15, 2024	04-15	CI
Morguard Names COO	03-26	MT
Morguard Corporation Brief: Angela Sahi, Appointed To New Role of President and Chief Operating Officer, effective immediately	03-26	MT
RBC Capital Markets Says Outperform Ratings For Canadian REITs Still Intact	03-20	MT
Morguard North American Residential Real Estate Investment Trust Declares Distribution for March 2024 , Payable on April 15, 2024	03-15	CI
Morguard Corporation Brief: Net income decreased by $54.0 million to $58.2 million for the year ended December 31, 2023; Announces Regular Eligible Dividend	02-22	MT
CAPREIT Brief: Q4 FFO per unit Diluted $0.602	02-22	MT
Transcript : Morguard North American Residential Real Estate Investment Trust, Q4 2023 Earnings Call, Feb 15, 2024	02-15
Morguard North American Residential Real Estate Investment Trust Declares February 2024, Payable on March 15, 2024	02-15	CI
Morguard North American Residential REIT Swings Back to a Fourth-Quarter Profit	02-13	MT
Morguard North American Residential Real Estate Investment Trust Reports Earnings Results for the Full Year Ended December 31, 2023	02-13	CI
Morguard North American Residential REIT Brief: Net income of $185.3 million for year ended December 31, 2023, a decrease of $54.3 million, or 22.7% compared to 2022	02-13	MT
Morguard North American Residential REIT Brief: Net operating income of $180.2 million for the year ended December 31, 2023, an increase of $29.0 million, or 19.2% compared to 2022	02-13	MT
Morguard Corporation Completes $410 Million Sale of Hotel Portfolio	01-19	MT
Morguard North American Residential Real Estate Investment Trust Declares a Distribution for the Month of January 2024, Payable on February 15, 2024	01-15	CI
Morguard North American REIT Obtains TSX Approval for Normal Course Issuer Bid	01-10	MT
Morguard Corporation Sells Hotel Portfolio For $410 Million	01-08	MT

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Company Profile

Morguard North American Residential Real Estate Investment Trust (the REIT) is an open-ended real estate investment trust. The REIT owns, through a limited partnership, interests in Canadian residential apartment communities, located in Alberta and Ontario, and United States residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia, and Maryland. The objectives of the REIT are to generate stable and growing cash distributions to Unitholders on a tax-efficient basis; to enhance the value of its portfolio and the long-term value of its units through active asset and property management; and to expand the REIT's asset base, primarily through acquisitions and property improvements. The REIT's multi-suite residential property portfolio consists of about 16 Canadian properties and 27 United States properties, having a total of approximately 13,089 residential suites and 239,500 square feet of commercial area.

Sector

Residential REITs

Calendar

22/07/2024 - Q2 2024 Earnings Release (Projected)

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

16.04 CAD

Average target price

20.33 CAD

Spread / Average Target

+26.77%

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Sector Residential REITs

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MORGUARD NORTH AMERICAN RESIDENTIAL REAL ESTATE INVESTMENT TRUST	+8.67%	442M
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INVITATION HOMES INC.	+4.40%	21.43B
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MID-AMERICA APARTMENT COMMUNITY, INC.	+2.42%	15.98B
SUN COMMUNITIES, INC.	-11.47%	14.64B
AMERICAN HOMES 4 RENT	+1.97%	13.21B
UDR INC.	+3.36%	12.96B
EQUITY LIFESTYLE PROPERTIES, INC.	-10.34%	11.62B

Residential REITs