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Morguard NA REIT UN (TSE:MRG.UN)
TSX:MRG.UN
Holding TSE:MRG.UN?
Track your performance easily
Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
0.46Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2018
|% Change Since: -8.67%
|Next Earnings Date:Jul 31, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with strong asset growth and rent increases in Canada offset by significant net loss and decreased occupancy in the U.S. Interest expense rise and operational challenges contributed to a cautious outlook.Company Guidance
During the Q3 2024 earnings call for MRG.UN.TO, several key financial metrics and guidance were provided. The REIT's total assets increased to $4.4 billion, up from $4.1 billion at the end of 2023, due to factors including a fair value increase in real estate properties. They reported $103.3 million in cash and a $1.7 billion long-term debt. Mortgage payables have a weighted average term of 5.1 years and an interest rate of 3.87%. The debt-to-gross book value ratio slightly increased to 38.9%. The REIT repurchased about 1.1 million units under the NCIB at an average price of $16.94, with an IFRS net asset value per unit at $41.30. The annual cash distribution was increased by 2.7% to $0.76 per unit. Despite a net loss of $18.8 million, mostly due to non-cash items, the REIT saw a net operating income of $52 million, a slight decrease from the previous year. In Canada, the average monthly rent rose by 6% to $1,754, while in the U.S., it increased by 2% to USD 1,911. Canadian occupancy was at 97.8%, and U.S. occupancy at 91.7%. The REIT also completed $31.8 million in capital expenditures. Looking ahead, the REIT plans to continue with its share buyback strategy and is exploring acquisition opportunities, particularly where cap rates are favorable.Increase in Total Assets
Total assets increased to $4.4 billion in Q3 2024, up from $4.1 billion at the end of 2023, due to a fair value increase on real estate properties and foreign exchange rate fluctuations.
Strong Canadian Rent Growth
Average monthly rent in Canada increased by 6% compared to 2023, with a 24.1% AMR growth on suite turnover.
Increase in Annual Cash Distribution
Annual cash distribution increased by $0.02 per unit, a 2.7% increase, to $0.76 per unit.
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TSE:MRG.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:MRG.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | C$18.45 | C$18.01 | -2.38% |
| Jul 30, 2024 | C$16.65 | C$16.37 | -1.68% |
| Apr 30, 2024 | C$14.77 | C$14.49 | -1.90% |
| Feb 13, 2024 | C$13.98 | C$14.30 | +2.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Morguard NA REIT UN (TSE:MRG.UN) report earnings?
Morguard NA REIT UN (TSE:MRG.UN) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Morguard NA REIT UN (TSE:MRG.UN) earnings time?
Morguard NA REIT UN (TSE:MRG.UN) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:MRG.UN EPS forecast?
Currently, no data Available
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