Morguard Real Estate Investment Trust MRT.UN.TO · CAD
Real Estate · Toronto Stock Exchange · 🇨🇦 Canada
6.99
-0.43%
Close of 9 Nov 2026, in CAD
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About Morguard Real Estate Investment Trust
Its shares trade on Toronto Stock Exchange under the ticker MRT.UN.TO. It has been listed since 14 October 1997. In the fiscal year to 31 December 2025, it reported revenue of C$239.3m and a net loss of C$16.6m. At that date it held total assets of C$2.16bn and shareholders' equity of C$864.7m.
Morguard Real Estate Investment Trust is a closed-end investment trust. The company is headquartered in Mississauga, Ontario. The Trust's objective is to accumulate a Canadian portfolio of real estate assets and then manage the portfolio to generate steady, dependable returns to unitholders. The company owns a real estate portfolio of approximately 50 commercial properties consisting of approximately nine million square feet of gross leasable area located in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec. The retail portfolio includes two categories of properties: enclosed full-scale, regional shopping centers that are dominant in their respective markets, and neighborhood and community shopping centers that are primarily anchored by food retailers, discount department stores and banking institutions. The Trust's office portfolio is focused on properties in Canadian urban centers. Its property portfolio comprises approximately 30 office and industrial properties, and over 20 retail properties.
Figures and description from our data supplier, not checked against the company's own report.
Company facts
- Sector
- Real Estate
- Industry
- Equity Real Estate Investment Trusts (REITs)
- Listed since
- 14 Oct 1997
- Employees
- 8
Leadership
Pay as last reported
- Mr. Kuldip SahiChairman of the Board, President, Chief Executive Officer, Trustee, since 2018$100,000
- Mr. Andrew TamlinChief Financial Officer$266,142
- Ms. Beverley FlynnSenior Vice President, General Counsel, Secretary
- Mr. Paul MiatelloSenior Vice President, since 2018
- Ms. Angela SahiSenior Vice President$1.2m
- Mr. Bart MunnLead Independent Trustee$50,000
- Mr. Timothy MurphyIndependent Trustee$41,000
- Mr. Donald TurpleIndependent Trustee$45,000
- Mr. Timothy WalkerIndependent Trustee, since 2004$46,500
- Mr. Tullio CapulliNon-Independent Trustee$80,952
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 72
- Environment
- 99
- Social
- 99
- Governance
- 18
- Direct emissions (scope 1)
- 60,402 t
- Energy emissions (scope 2)
- 43,221 t
- Value chain emissions (scope 3)
- 15,174 t
- Women in the workforce
- 51%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Morguard Real Estate Investment Trust (REIT) possesses several key strengths that contribute to its position in the market. Firstly, the company has a diversified portfolio of high-quality properties, which include retail, office, industrial, and residential real estate assets. This diversity helps mitigate risks associated with a specific sector or region, providing stability and long-term growth opportunities.
- Another strength of Morguard REIT lies in its strong financial performance. The company has consistently delivered solid financial results, demonstrating its ability to generate stable rental income and maintain a healthy occupancy rate across its properties. This financial strength enables the REIT to fund growth initiatives, such as property acquisitions and developments, further enhancing its competitive advantage.
- Additionally, Morguard REIT benefits from its strategic partnerships. By collaborating with top-tier tenants and industry-leading partners, the REIT gains access to a vast network and opportunities for future expansion. These partnerships not only generate reliable income streams but also provide access to invaluable industry expertise and resources.
Weaknesses
- Despite its strengths, Morguard REIT also faces certain weaknesses that need to be addressed. A notable weakness is the REIT's dependency on a few key tenants, particularly in the retail sector. Any negative financial impact on these tenants, such as bankruptcies or store closures, could significantly affect Morguard REIT's rental income and overall performance.
- Another weakness lies in potential interest rate fluctuations. As a REIT, Morguard is highly sensitive to changes in interest rates, which can impact its borrowing costs and potentially reduce its profitability. Mitigating this risk requires effective interest rate management strategies and the ability to adapt to changing market conditions.
Opportunities
- Morguard REIT can capitalize on several opportunities in the market to drive future growth. One opportunity lies in the increasing demand for sustainable and energy-efficient properties. By investing in green initiatives and upgrading existing assets, the REIT can attract socially responsible tenants and potentially benefit from government incentives or grants, while also reducing operating costs.
- Furthermore, the ongoing urbanization trend presents opportunities for Morguard REIT to expand its footprint in attractive urban markets. By strategically acquiring well-located properties in high-growth areas, the REIT can tap into the demand for urban living, creating value for its stakeholders and driving long-term rental growth.
Threats
- Morguard REIT faces various external threats that could impact its operations and financial performance. One significant threat is the current economic uncertainty and potential market downturns. Economic downturns can reduce consumer spending, affect tenant businesses, and decrease property values, potentially leading to higher vacancy rates and lower rental income for the REIT.
- Another threat relates to regulatory changes and government policies impacting the real estate industry. Shifts in tax laws, zoning regulations, or environmental policies can create challenges and additional costs for the REIT. Staying updated on changing regulations and proactively adjusting business strategies can help mitigate these threats.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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