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Morguard Real Estate (TSE:MRT.UN)
:MRT.UN
RESEARCH TOOLSreports
Earnings Data
Report Date
Jul 23, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
―Last Year’s EPS
-0.03Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Date:Apr 30, 2025
|% Change Since: 6.08%
|Next Earnings Date:Jul 23, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a challenging quarter for Morguard REIT, with significant declines in net operating income, occupancy levels, and fair value losses. However, there are positive aspects in community strip centers' performance, enclosed malls' growth, and improved liquidity and interest expenses. Positive leasing efforts at Penn West Plaza provide some optimism despite market challenges.Company Guidance
During the conference call discussing Morguard Real Estate Investment Trust's first quarter results for 2025, several key metrics and insights were highlighted. The trust experienced a decline in total net operating income from $30.9 million in Q1 2024 to $25.7 million in Q1 2025, primarily due to a $3 million impact from the Penn West Plaza lease reset and a $1 million increase in bad debt expenses. Additionally, the sale of Heritage Town Center in 2024 contributed to a $700,000 decrease. Despite these challenges, Penn West Plaza achieved an 80% occupancy rate when factoring in future commitments, although the net operating income for this asset is expected to decline by approximately $15 million in 2025. The trust is addressing the effects of retail failures, including The Bay's creditor protection filing, which risks $1.5 million in gross income, and Comark Group's proceedings, potentially leading to an $850,000 annual income decline. On the positive side, community strip centers reported a 99% occupancy rate and a 7% increase in same-asset net operating income, while enclosed malls enjoyed a 6.5% average annual growth over three years. Interest expenses decreased by $900,000 due to a $28 million reduction in gross debt and lower interest rates, with liquidity rising to $87 million from $81 million at the previous year-end. The trust's occupancy level decreased to 87.7% from 91.2% due to increased Penn West Plaza vacancies. The trust remains focused on debt reduction, having lowered it by over $100 million in four years, and plans strategic developments, including a $6.4 million capital commitment for St. Laurent enhancements.Community Strip Centers Occupancy
Community strip centers are nearly fully occupied at 99% and achieved a 7% same asset increase in net operating income for the first quarter.
Enclosed Malls Performance
Enclosed malls are performing well with positive leasing spreads and a three-year average annual same-asset net operating income growth of 6.5%.
Interest Expense Reduction
Interest expense declined by almost $900,000 for the quarter due to a $28 million decline in gross debt year-over-year and lower interest rates.
Liquidity Improvement
Liquidity at the end of the quarter was $87 million, up from $81 million at the end of the previous year.
Positive Leasing Efforts at Penn West Plaza
Penn West Plaza achieved an 80% occupancy level despite market challenges.
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
TSE:MRT.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 30, 2025 | C$5.59 | C$5.47 | -2.15% |
Feb 12, 2025 | C$5.50 | C$5.54 | +0.73% |
Oct 30, 2024 | C$5.46 | C$5.44 | -0.37% |
Jul 31, 2024 | C$5.17 | C$5.20 | +0.58% |
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.
FAQ
When does Morguard Real Estate (TSE:MRT.UN) report earnings?
Morguard Real Estate (TSE:MRT.UN) is schdueled to report earning on Jul 23, 2025, TBA Not Confirmed.
What is Morguard Real Estate (TSE:MRT.UN) earnings time?
Morguard Real Estate (TSE:MRT.UN) earnings time is at Jul 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:MRT.UN EPS forecast?
Currently, no data Available