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Morguard Real Estate (TSE:MRT.UN)
:MRT.UN
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-0.62Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2018
|% Change Since: -0.18%
|Next Earnings Date:Aug 01, 2018
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook with strong improvements in net operating income, leasing activity, and debt reduction. However, challenges such as increased interest expenses and potential income decreases in 2025 were acknowledged.Company Guidance
During the third quarter 2024 earnings call for Morguard Real Estate Investment Trust (MRT.UN.TO), executives reported a strong performance with several key metrics indicating growth and stability. Net operating income (NOI) increased by nearly 6% to $32.2 million compared to $30.6 million in the same quarter of 2023, driven predominantly by improved results in enclosed malls. Same asset NOI for the quarter rose by almost 8%, and for the year-to-date 9-month period, it was up 5.6%. Office assets in Alberta contributed to a 4% increase in same asset NOI for the 9-month period. The trust's funds from operations (FFO) for the quarter improved by 7% to $14.9 million. Interest expenses rose by 5% to $16.8 million due to higher mortgage rollover costs. The trust's debt level decreased significantly by $123 million over the past four years, with 15% of its debt being variable as of September 30, 2024, down from 20% in the previous quarter. Retail leasing spreads saw an average increase of 8% on renewals, contributing to positive same-store growth. Overall occupancy increased by 60 basis points to 90.7%, highlighted by a 100 basis point increase in office assets, notably in suburban Calgary. Looking ahead, the trust anticipates a decrease in NOI by $13 to $15 million in 2025 due to lease-up and vacancy costs at Penn West Plaza but expects a $5 million improvement in 2026. The trust ended the quarter with $92 million in liquidity, down from $98 million in the second quarter.Strong Increase in Net Operating Income
Net operating income for Q3 2024 was up almost 6% at $32.2 million compared to $30.6 million in 2023, driven by improved results at enclosed malls.
Significant Improvement in Same Asset Net Operating Income
Same asset net operating income increased almost 8% for Q3 2024 and 5.6% for the year-to-date 9-month period, with improvements across all asset classes.
Positive Leasing Activity
The Trust saw an average increase of 8% in leasing spreads on renewals for the 9-month period, contributing to same-store growth.
Debt Reduction Success
The Trust has reduced its debt by $123 million compared to 4 years ago, with a decline in variable debt from 20% to 15% by September 30, 2024.
Retail Growth Post-Pandemic
Retail results continue to improve with increased traffic and sales in enclosed malls, contributing to strong demand for retail space.
High Occupancy Levels
Overall occupancy increased by 60 basis points to 90.7%, driven by a 100 basis point increase in office asset occupancy.
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TSE:MRT.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:MRT.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | C$5.54 | C$5.52 | -0.36% |
| Jul 31, 2024 | C$5.25 | C$5.28 | +0.57% |
| May 01, 2024 | C$5.17 | C$5.28 | +2.13% |
| Feb 14, 2024 | C$5.13 | C$5.13 | 0.00% |
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 Real Estate (TSE:MRT.UN) report earnings?
Morguard Real Estate (TSE:MRT.UN) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Morguard Real Estate (TSE:MRT.UN) earnings time?
Morguard Real Estate (TSE:MRT.UN) earnings time is at Feb 12, 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:MRT.UN EPS forecast?
Currently, no data Available
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