Morguard Real Estate Investment Trust
TSX:MRT.UN

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Morguard Real Estate Investment Trust Logo
Morguard Real Estate Investment Trust
TSX:MRT.UN
Watchlist
Price: 5.97 CAD 0.84% Market Closed
Market Cap: 392.2m CAD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

0
Revenue
+0%
3Y
+2%
5Y
-5%
10Y
-16%
0
Operating Income
+0%
3Y
-3%
5Y
-18%
10Y
-31%
0
Net Income
+0%
3Y
-
5Y
+83%
10Y
-

Earnings Waterfall
Morguard Real Estate Investment Trust

Revenue
249.4m CAD
Cost of Revenue
-132.3m CAD
Gross Profit
117.1m CAD
Operating Expenses
-3.8m CAD
Operating Income
113.3m CAD
Other Expenses
-146.5m CAD
Net Income
-33.2m CAD

Income Statement
Morguard Real Estate Investment Trust

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Income Statement
Currency: CAD
Millions
Ones
Thousands
Millions
Billions
TTM
Quarterly
Annual
TTM
Sep-2001 Dec-2001 Mar-2002 Jun-2002 Sep-2002 Dec-2002 Mar-2003 Jun-2003 Sep-2003 Dec-2003 Mar-2004 Jun-2004 Sep-2004 Dec-2004 Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025
Revenue
Interest Expense
37
35
37
37
37
34
41
44
47
44
54
57
60
58
62
61
61
55
53
50
47
47
45
43
42
42
42
41
40
40
39
39
39
40
42
44
47
48
50
51
51
50
50
50
49
53
52
54
58
59
59
60
61
61
61
60
58
58
57
57
56
56
56
56
56
55
55
55
55
56
56
57
58
58
58
58
57
56
55
54
54
53
53
53
53
54
55
57
60
63
65
67
68
67
67
0
Revenue
151
N/A
153
+1%
153
0%
152
-1%
152
+0%
151
-1%
165
+10%
175
+6%
181
+3%
179
-1%
182
+2%
181
-1%
182
+1%
189
+4%
191
+1%
193
+1%
195
+1%
174
-11%
169
-3%
163
-3%
157
-3%
174
+11%
178
+3%
182
+2%
185
+2%
190
+2%
193
+1%
196
+2%
199
+2%
201
+1%
201
0%
202
+1%
202
0%
205
+1%
207
+1%
208
+1%
214
+3%
220
+3%
227
+3%
232
+2%
235
+1%
236
+0%
236
+0%
237
+0%
238
+1%
253
+6%
256
+1%
264
+3%
274
+4%
280
+2%
283
+1%
290
+2%
294
+1%
299
+1%
299
+0%
296
-1%
293
-1%
291
-1%
288
-1%
286
0%
284
-1%
281
-1%
281
0%
279
-1%
279
0%
279
+0%
277
-1%
277
+0%
277
0%
277
0%
278
+0%
277
0%
276
0%
273
-1%
269
-2%
261
-3%
256
-2%
254
-1%
248
-2%
248
0%
246
-1%
241
-2%
242
+0%
244
+1%
246
+1%
243
-1%
246
+1%
247
+1%
249
+1%
255
+2%
255
0%
257
+1%
258
+0%
259
+1%
255
-2%
249
-2%
Gross Profit
Cost of Revenue
(66)
(67)
(67)
(67)
(68)
(66)
(73)
(76)
(78)
(77)
(76)
(75)
(76)
(78)
(79)
(80)
(82)
(77)
(75)
(73)
(70)
(76)
(79)
(80)
(81)
(82)
(83)
(84)
(86)
(87)
(87)
(88)
(90)
(91)
(91)
(93)
(95)
(97)
(99)
(101)
(102)
(102)
(103)
(104)
(104)
(110)
(111)
(113)
(117)
(118)
(121)
(124)
(126)
(129)
(128)
(128)
(127)
(125)
(124)
(123)
(123)
(120)
(120)
(120)
(121)
(122)
(122)
(124)
(123)
(124)
(125)
(124)
(124)
(123)
(122)
(119)
(116)
(115)
(113)
(117)
(118)
(118)
(121)
(121)
(124)
(120)
(121)
(122)
(123)
(129)
(129)
(130)
(129)
(131)
(132)
(132)
Gross Profit
85
N/A
86
+1%
85
-1%
85
-1%
84
0%
85
+1%
92
+8%
98
+7%
103
+4%
102
0%
106
+4%
106
0%
107
+1%
111
+4%
112
+1%
113
+1%
113
+0%
98
-14%
94
-4%
90
-4%
87
-4%
98
+13%
100
+2%
102
+2%
105
+3%
107
+3%
110
+2%
112
+2%
114
+2%
115
+1%
113
-1%
114
+1%
113
-1%
114
+1%
116
+1%
115
0%
119
+3%
124
+4%
128
+3%
132
+3%
133
+1%
134
+0%
133
-1%
133
+0%
134
+1%
142
+6%
145
+2%
151
+4%
157
+4%
161
+3%
163
+1%
166
+2%
168
+1%
170
+1%
171
+0%
168
-2%
166
-1%
166
0%
164
-1%
163
0%
161
-1%
161
-1%
160
0%
159
-1%
158
-1%
157
-1%
155
-2%
153
-1%
153
0%
152
-1%
152
+0%
152
+0%
152
-1%
150
-1%
147
-2%
143
-3%
139
-3%
139
0%
135
-3%
131
-3%
128
-2%
123
-4%
121
-2%
122
+1%
122
0%
122
0%
125
+2%
125
+0%
126
+0%
126
+0%
125
-1%
127
+1%
128
+1%
128
+0%
123
-4%
117
-5%
Operating Income
Operating Expenses
(6)
(10)
(7)
(7)
(7)
(11)
(7)
(8)
(8)
(13)
(13)
(17)
(21)
(31)
(26)
(27)
(28)
(26)
(35)
(36)
(37)
(31)
(36)
(37)
(38)
(38)
(39)
(41)
(41)
(40)
(41)
(41)
(45)
(45)
(36)
(27)
(14)
(6)
(5)
(5)
(6)
(5)
(5)
(5)
(3)
(5)
(3)
(3)
(5)
(4)
(5)
(5)
(5)
(5)
(5)
(5)
(4)
(4)
(4)
7
6
6
6
(5)
(6)
(5)
(5)
(5)
(5)
(6)
(6)
(6)
(5)
(5)
(5)
(5)
(5)
(5)
(3)
(3)
(3)
(2)
(5)
(5)
(5)
(3)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
Selling, General & Administrative
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
(2)
(3)
(4)
(4)
(4)
(4)
(4)
(5)
(5)
(4)
(4)
(4)
(4)
(8)
(8)
(9)
(9)
(4)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(4)
(4)
(4)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(5)
(4)
(4)
(4)
(4)
(4)
(3)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
(4)
Depreciation & Amortization
(6)
(9)
(7)
(7)
(7)
(10)
(7)
(8)
(8)
(12)
(13)
(17)
(21)
(29)
(26)
(27)
(28)
(26)
(26)
(26)
(25)
(25)
(29)
(30)
(31)
(33)
(36)
(38)
(39)
(36)
(38)
(37)
(37)
(35)
(27)
(18)
(9)
(0)
(0)
(0)
(0)
0
(0)
(0)
(0)
0
(0)
(0)
(0)
0
(0)
(0)
(0)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
(0)
Other Operating Expenses
0
0
0
0
0
(1)
0
0
0
(1)
(0)
(0)
(0)
(2)
(0)
(0)
(0)
0
(9)
(9)
(9)
(3)
(3)
(3)
(2)
(1)
2
2
2
0
1
0
(0)
(3)
(0)
(0)
(0)
(1)
(1)
(1)
(1)
(1)
(1)
(0)
2
1
2
2
0
0
0
0
0
0
0
0
0
0
0
11
11
11
11
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
1
1
1
2
(1)
(1)
(1)
1
(0)
(0)
0
0
0
0
0
0
0
0
Operating Income
78
N/A
76
-2%
79
+3%
78
-1%
78
-1%
74
-4%
85
+14%
91
+7%
94
+4%
90
-5%
93
+4%
88
-5%
85
-3%
80
-7%
86
+8%
86
0%
85
-1%
72
-16%
58
-18%
54
-8%
50
-7%
67
+34%
64
-4%
65
+3%
67
+2%
69
+4%
71
+3%
71
+0%
73
+2%
74
+2%
72
-3%
73
+2%
67
-8%
69
+2%
79
+15%
88
+12%
105
+19%
118
+12%
122
+4%
126
+3%
128
+1%
129
+1%
127
-1%
128
+0%
131
+2%
138
+5%
142
+3%
148
+5%
152
+3%
157
+3%
158
+1%
161
+2%
163
+1%
165
+1%
165
+1%
163
-1%
162
-1%
162
+0%
159
-2%
170
+7%
168
-1%
166
-1%
166
0%
154
-8%
153
-1%
152
0%
149
-2%
148
-1%
148
0%
147
-1%
147
+0%
147
+0%
146
0%
145
-1%
142
-2%
138
-3%
134
-3%
134
0%
132
-1%
128
-3%
125
-2%
121
-3%
116
-4%
117
+1%
117
0%
120
+2%
121
+1%
121
+0%
122
+1%
122
+0%
121
-1%
123
+1%
125
+1%
125
+0%
120
-4%
113
-5%
Pre-Tax Income
Interest Income Expense
(31)
(32)
(34)
(36)
(34)
(31)
(41)
(44)
(47)
(44)
(47)
(50)
(53)
(51)
(62)
(61)
(61)
(55)
(53)
(50)
(47)
(47)
(45)
(43)
(42)
(42)
(5)
(4)
(40)
(3)
(39)
(39)
(39)
(41)
(47)
(19)
21
57
64
56
39
30
51
57
62
91
119
117
91
55
15
(6)
(19)
(51)
(72)
(124)
(116)
(135)
(113)
(84)
(99)
(109)
(107)
(61)
(85)
(85)
(102)
(110)
(90)
(74)
(74)
(123)
(121)
(130)
(246)
(331)
(418)
(477)
(368)
(276)
(183)
(115)
(74)
(42)
(107)
(206)
(252)
(283)
(264)
(197)
(227)
(229)
(176)
(183)
(153)
(147)
Non-Reccuring Items
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(9)
0
0
0
(4)
0
0
0
0
0
0
0
0
0
0
0
0
0
(0)
(0)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(6)
(10)
(15)
(15)
(9)
(4)
(1)
(2)
(2)
(2)
(0)
0
1
0
0
0
0
0
0
0
0
Gain/Loss on Disposition of Assets
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(0)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Total Other Income
(5)
(4)
(4)
(6)
(6)
(5)
(2)
(0)
(3)
(3)
(3)
(3)
(3)
(3)
(3)
(4)
(4)
(4)
(3)
(2)
0
0
0
0
0
0
0
0
37
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Pre-Tax Income
42
N/A
41
-4%
41
+2%
35
-14%
37
+6%
38
+3%
42
+9%
46
+11%
45
-4%
43
-5%
43
+1%
35
-18%
29
-17%
26
-12%
21
-20%
21
+1%
21
0%
4
-82%
2
-47%
1
-34%
2
+25%
17
+925%
19
+16%
22
+16%
25
+13%
27
+8%
67
+147%
67
+1%
69
+3%
72
+4%
33
-54%
34
+4%
28
-18%
28
0%
32
+15%
69
+112%
126
+84%
174
+38%
186
+7%
182
-2%
167
-9%
158
-5%
179
+13%
185
+3%
192
+4%
228
+19%
260
+14%
265
+2%
243
-8%
212
-13%
173
-19%
156
-10%
144
-8%
114
-21%
94
-18%
39
-58%
45
+16%
27
-41%
47
+75%
86
+84%
69
-19%
57
-17%
59
+3%
93
+57%
68
-27%
67
-1%
47
-30%
38
-19%
58
+53%
73
+25%
72
-1%
24
-67%
25
+5%
15
-42%
(105)
N/A
(199)
-90%
(293)
-47%
(357)
-22%
(250)
+30%
(157)
+37%
(62)
+60%
5
N/A
40
+718%
73
+84%
8
-88%
(86)
N/A
(131)
-52%
(161)
-22%
(142)
+12%
(74)
+48%
(106)
-42%
(106)
0%
(51)
+52%
(59)
-15%
(34)
+43%
(33)
+2%
Net Income
Tax Provision
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Income from Continuing Operations
42
41
41
35
37
38
42
46
45
43
43
35
29
26
21
21
21
4
2
1
2
17
19
22
25
27
67
67
69
72
33
34
28
28
32
69
126
174
186
182
167
158
179
185
192
228
260
265
243
212
173
156
144
114
94
39
45
27
47
86
69
57
59
93
68
67
47
38
58
73
72
24
25
15
(105)
(199)
(293)
(357)
(250)
(157)
(62)
5
40
73
8
(86)
(131)
(161)
(142)
(74)
(106)
(106)
(51)
(59)
(34)
(33)
Net Income (Common)
41
N/A
39
-6%
39
+1%
32
-18%
32
0%
41
+28%
32
-21%
36
+11%
34
-4%
31
-9%
34
+7%
28
-16%
25
-11%
27
+9%
24
-13%
27
+14%
28
+2%
15
-44%
13
-14%
11
-19%
11
+3%
53
+386%
56
+5%
84
+50%
86
+2%
63
-26%
101
+59%
83
-18%
91
+11%
84
-8%
47
-45%
41
-11%
29
-30%
32
+12%
36
+12%
72
+99%
130
+79%
174
+35%
186
+7%
182
-2%
167
-9%
158
-5%
179
+13%
185
+3%
192
+4%
228
+19%
260
+14%
265
+2%
243
-8%
212
-13%
173
-19%
156
-10%
144
-8%
114
-21%
94
-18%
39
-58%
45
+16%
27
-41%
47
+75%
86
+84%
69
-19%
57
-17%
59
+3%
93
+57%
68
-27%
67
-1%
47
-30%
38
-19%
58
+53%
73
+25%
72
-1%
24
-67%
25
+5%
15
-42%
(105)
N/A
(199)
-90%
(293)
-47%
(357)
-22%
(250)
+30%
(157)
+37%
(62)
+60%
5
N/A
40
+718%
73
+84%
8
-88%
(86)
N/A
(131)
-52%
(161)
-22%
(142)
+12%
(74)
+48%
(106)
-42%
(106)
0%
(51)
+52%
(59)
-15%
(34)
+43%
(33)
+2%
EPS (Diluted)
0.92
N/A
0.88
-4%
0.88
N/A
0.71
-19%
0.74
+4%
0.92
+24%
0.72
-22%
0.6
-17%
0.77
+28%
0.7
-9%
0.56
-20%
0.93
+66%
0.56
-40%
0.61
+9%
0.52
-15%
0.59
+13%
0.61
+3%
0.34
-44%
0.28
-18%
0.21
-25%
0.21
N/A
1.04
+395%
0.94
-10%
1.42
+51%
1.44
+1%
1.07
-26%
1.7
+59%
1.4
-18%
1.54
+10%
1.42
-8%
0.8
-44%
0.71
-11%
0.49
-31%
0.56
+14%
0.56
N/A
1.11
+98%
2
+80%
2.71
+36%
2.9
+7%
2.83
-2%
2.59
-8%
2.48
-4%
2.78
+12%
2.87
+3%
3.07
+7%
3.72
+21%
3.56
-4%
3.61
+1%
3.31
-8%
2.89
-13%
2.41
-17%
2.18
-10%
2.03
-7%
1.6
-21%
1.31
-18%
0.63
-52%
0.63
N/A
0.43
-32%
0.64
+49%
1.2
+88%
0.97
-19%
0.79
-19%
0.81
+3%
1.26
+56%
1.11
-12%
0.91
-18%
0.64
-30%
0.51
-20%
0.95
+86%
0.98
+3%
0.93
-5%
0.41
-56%
0.43
+5%
0.24
-44%
-1.73
N/A
-3.22
-86%
-4.68
-45%
-5.75
-23%
-3.89
+32%
-2.44
+37%
-0.64
+74%
0.08
N/A
0.41
+413%
0.76
+85%
0.13
-83%
-1.34
N/A
-2.04
-52%
-2.5
-23%
-2.21
+12%
-1.16
+48%
-1.65
-42%
-1.66
-1%
-0.53
+68%
-0.92
-74%
-0.52
+43%
-0.51
+2%

See Also

Summary
MRT.UN intrinsic value, competitors valuation, and company profile.
DCF Valuation
MRT.UN stock valuation using Discount Cash Flow valuation method.
Relative Valuation
MRT.UN stock valuation using valuation multiples.
Wall Street Estimates
MRT.UN price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
MRT.UN stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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