Sector: Real Estate | Industry: Residential REITs |
Company Contact | |
Address: | 55 City Centre Drive, Suite 800 MISSISSAUGA ON L5B 1M3 |
Tel: | 1-905-2815359 |
Website: | https://www.morguard.com |
IR: | See website |
Key People | ||
Kuldip Sahi Chairman of the Board of Trustees, Chief Executive Officer | Christopher Alexander Newman Chief Financial Officer | Beverley G. Flynn Senior Vice President, General Counsel, Secretary |
Paul Miatello Senior Vice President | Angela Sahi Senior Vice President | John Talano Vice President - Operations, U.S. | Brian Athey Vice President |
Business Overview |
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. |
Financial Overview |
For the three months ended 31 March 2024, Morguard Nrth mrcn Rsdntl Rl stt nvstmnt revenues increased 6% to C$84.8M. Net income decreased 13% to C$25.7M. Revenues reflect United States segment increase of 7% to C$57.2M, Canada segment increase of 6% to C$27.6M, Funds fr Operations per share - REIT increase of 5% to C$0.41. Net income was offset by United States segment income decrease of 7% to C$4.9M. |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $2,150M as of Mar 31, 2024 |
Annual revenue (TTM): | $336.73M as of Mar 31, 2024 |
EBITDA (TTM): | $181.52M as of Mar 31, 2024 |
Net annual income (TTM): | $172.57M as of Mar 31, 2024 |
Free cash flow (TTM): | $62.69M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $1,562M as of Mar 31, 2024 |
Shares outstanding: | 54,833,619 as of May 6, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |