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Morguard (OTC) ( (TSE:MRC) ) has shared an update.
Morguard Corporation has increased its ownership in Morguard Real Estate Investment Trust by acquiring 1,307,418 trust units, raising its stake from 80.72% to 82.30%. This strategic move, executed through the Toronto Stock Exchange and the REIT’s distribution reinvestment plan, underscores Morguard’s commitment to enhancing its investment portfolio. The acquisition, valued at approximately $7.25 million, is part of Morguard’s broader investment strategy, potentially impacting its market position and offering implications for stakeholders in terms of ownership concentration and future investment activities.
More about Morguard (OTC)
Morguard Corporation is a prominent North American real estate and property management firm with a diverse portfolio that includes retail, office, industrial, hotel, and residential properties. It holds significant investments in Morguard Real Estate Investment Trust and Morguard North American Residential REIT, managing assets valued at $18.6 billion. Morguard also offers real estate management services to institutional and other investors.
YTD Price Performance: 4.40%
Average Trading Volume: 632
Technical Sentiment Signal: Sell
Current Market Cap: $904.9M
For detailed information about MRC stock, go to TipRanks’ Stock Analysis page.