Morguard Corporation (OTC) (TSE:MRC)
TSX:MRC
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Morguard (OTC)
(TSX:MRC)
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Rating:67Neutral
Price Target:
C$125.00
▲(2.90% Upside)
Action:ReiteratedDate:03/03/26
The score is driven primarily by solid but risk-moderated financial performance (consistent free cash flow and decent margins, offset by leverage and volatility), supported by attractive valuation (low P/E and very high yield). Technical indicators are slightly bearish/neutral, limiting upside near term.
Positive Factors
Diversified recurring revenue
Morguard earns recurring operating income from rentals, management fees, development activity and investment distributions. This multi‑stream model stabilizes cash flow across cycles, supports predictable NOI, and reduces dependence on any single asset type or transaction timing.
Negative Factors
High financial leverage
Meaningful leverage raises sensitivity to interest rates and refinancing cycles, increasing funding risk if credit conditions tighten. High debt multiplies property valuation swings and constrains strategic moves like large acquisitions or opportunistic capex without additional capital or asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified recurring revenue
Morguard earns recurring operating income from rentals, management fees, development activity and investment distributions. This multi‑stream model stabilizes cash flow across cycles, supports predictable NOI, and reduces dependence on any single asset type or transaction timing.
Read all positive factors
Morguard (OTC) (MRC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.28B
Dividend Yield0.69%
Average Volume (3M)1.23K
Price to Earnings (P/E)12.4
Beta (1Y)0.28
Revenue Growth-0.31%
EPS Growth-32.58%
CountryCA
Employees1,000
SectorReal Estate
Sector Strength53
IndustryReal Estate - Diversified
Share Statistics
EPS (TTM)16.34
Shares Outstanding10,678,094
10 Day Avg. Volume1,004
30 Day Avg. Volume1,229
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)0.28
Price to Sales (P/S)1.10
P/FCF Ratio5.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$145.00Price Target Upside19.36% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)16.42
Revenue Forecast (FY)C$1.08B
Morguard (OTC) Business Overview & Revenue Model
Company Description
Morguard Corporation, a real estate investment and management corporation, acquires, owns, and develops multi-suite residential, commercial, and hotel properties in Canada and the United States. As of February 25, 2022, the company owned a portfol...
How the Company Makes Money
Morguard generates revenue through multiple streams primarily related to its real estate operations. The core revenue model includes rental income from its owned and managed properties, which provides a stable cash flow. Additionally, Morguard ear...
Morguard (OTC) Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
60
Neutral
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.12B | 1.11B | 1.23B | 1.12B | 1.02B |
| Gross Profit | 607.03M | 518.72M | 634.03M | 500.36M | 533.30M |
| EBITDA | 503.20M | 557.29M | 362.60M | 535.04M | 427.23M |
| Net Income | 174.87M | 261.80M | 74.18M | 122.77M | 249.76M |
Balance Sheet | |||||
| Total Assets | 11.84B | 11.76B | 11.62B | 11.71B | 11.49B |
| Cash, Cash Equivalents and Short-Term Investments | 184.62M | 140.72M | 116.52M | 111.81M | 173.66M |
| Total Debt | 5.62B | 5.44B | 5.81B | 5.80B | 5.80B |
| Total Liabilities | 7.07B | 7.04B | 7.28B | 7.32B | 7.32B |
| Stockholders Equity | 4.39B | 4.29B | 3.89B | 3.87B | 3.63B |
Cash Flow | |||||
| Free Cash Flow | 209.29M | 260.21M | 288.52M | 251.19M | 264.77M |
| Operating Cash Flow | 214.44M | 263.49M | 297.89M | 252.85M | 265.44M |
| Investing Cash Flow | -205.82M | 371.39M | -332.16M | -84.51M | -125.62M |
| Financing Cash Flow | 40.59M | -613.37M | 37.65M | -234.49M | -106.63M |
Morguard (OTC) Technical Analysis
Positive
121.48
Price Trends
115.36
Positive
115.85
Positive
116.00
Positive
Market Momentum
0.85
Negative
77.86
Negative
95.25
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MRC, the sentiment is Positive. The current price of 121.48 is above the 20-day moving average (MA) of 115.96, above the 50-day MA of 115.36, and above the 200-day MA of 116.00, indicating a bullish trend. The MACD of 0.85 indicates Negative momentum. The RSI at 77.86 is Negative, neither overbought nor oversold. The STOCH value of 95.25 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MRC.
Morguard (OTC) Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | C$1.64B | 8.83 | 15.88% | 0.09% | 7.91% | 48.86% | |
67 Neutral | C$1.28B | 12.44 | 5.23% | 0.69% | -0.31% | -32.58% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | C$855.49M | 5.86 | 5.16% | 4.41% | 0.32% | -7.66% | |
61 Neutral | C$2.09B | -3.38 | 0.93% | 4.42% | 5.44% | -96.13% | |
54 Neutral | C$434.04M | 18.25 | -1.91% | 3.85% | -6.31% | ― |
* Real Estate Sector Average
TSE:MRC
Morguard (OTC)
120.15
7.60
6.75%
TSE:KMP.UN
Killam Apartment REIT Un
17.08
0.17
1.02%
TSE:MEQ
Mainstreet Equity
176.48
-14.95
-7.81%
TSE:MRG.UN
Morguard NA REIT UN
16.40
-0.16
-0.94%
TSE:MRT.UN
Morguard Real Estate ate
6.50
1.18
22.30%
Morguard (OTC) Corporate Events
Business Operations and StrategyM&A Transactions
Morguard to Take $1 Billion Stake in TD Asset Management Residential Portfolio
Positive
Feb 26, 2026
Morguard Corporation and Morguard North American Residential REIT have agreed to invest $1.0 billion for a 20% interest in a $5.0 billion Canadian multi-suite residential portfolio currently owned by TD Asset Management, covering more than 15,500 ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Morguard Posts Steady 2025 Results and Strengthens Balance Sheet
Positive
Feb 19, 2026
Morguard Corporation reported 2025 results showing largely stable operations, with total assets steady at $11.8 billion and real estate revenue flat at about $1.0 billion despite softness in hotels and offices. The company maintained strong liquid...
Business Operations and StrategyM&A Transactions
Morguard Rebrands Lincluden as Morguard Lincluden Global Investments After Full Acquisition
Positive
Feb 3, 2026
Morguard Corporation has rebranded its wholly owned investment management subsidiary Lincluden Investment Management as Morguard Lincluden Global Investments, signaling a deeper integration of the value-focused asset manager into Morguard’s ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.