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Last C$136.19 CAD
Change Today -0.82 / -0.60%
Volume 12.3K
As of 4:10 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

morguard corp (MRC) Snapshot

Open
C$137.55
Previous Close
C$137.01
Day High
C$138.64
Day Low
C$136.19
52 Week High
03/4/15 - C$159.99
52 Week Low
10/16/14 - C$135.15
Market Cap
1.7B
Average Volume 10 Days
6.0K
EPS TTM
C$7.10
Shares Outstanding
12.5M
EX-Date
06/11/15
P/E TM
19.2x
Dividend
C$0.60
Dividend Yield
0.44%
Current Stock Chart for MORGUARD CORP (MRC)

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morguard corp (MRC) Details

Morguard Corporation, a real estate investment company, acquires, owns, and develops real estate properties in Canada and the United States. As of March 6, 2015, the company owned a portfolio of 170 multi-unit residential, retail, office, hotel, and industrial properties, which consists of 16,423 multi-unit residential suites; approximately 16.5 million square feet of commercial leasable space; and 1,056 hotel rooms. It also offers real estate management services, including acquisitions, development, dispositions, leasing, performance measurement, and asset and property management for institutional investors; and portfolio management services in real estate equities and income producing investments. The company is headquartered in Mississauga, Canada.

morguard corp (MRC) Top Compensated Officers

Chairman, Chief Executive Officer, Chairman o...
Total Annual Compensation: C$2.6M
Chief Financial Officer
Total Annual Compensation: C$345.6K
Compensation as of Fiscal Year 2014.

morguard corp (MRC) Key Developments

Morguard Corp. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Morguard Corp. reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of CAD 218.547 million compared to CAD 139.992 million a year ago. Net operating income was CAD 89.637 million compared to CAD 46.076 million a year ago. Funds from operations were CAD 41.567 million or CAD 3.37 per basic and diluted share compared to CAD 43.856 million or CAD 3.49 per basic and diluted share a year ago. Net income was CAD 4.539 million or CAD 0.37 per basic and diluted share compared to CAD 26.745 million or CAD 2.13 per basic and diluted share a year ago. The decrease in net income of CAD 22.2 million was primarily due to the consolidation of Morguard REIT. Adjusted NOI increased by CAD 45.8 million to CAD 105.6 million compared to CAD 59.8 million in 2014, representing an increase of 76.6%. Excluding the impact of the Morguard REIT consolidation of CAD 43.8 million, adjusted NOI increased by CAD 2.0 million primarily due to the following: increased rental rates and occupancy for the multi-unit residential portfolio (CAD 1.3 million); continued lease-up of Performance Court and The Heathview's North Tower (CAD 0.9 million); and positive impact of the change in the USD foreign exchange rate (CAD 3.2 million). The decrease in FFO of CAD 2.3 million is mainly due to an increase in: adjusted NOI of CAD 45.8 million; net sale of product and land of CAD 0.9 million; equity income from investments, excluding Morguard REIT, of CAD 1.0 million; and reduction in current taxes of CAD 1.7 million. Normalized FFO increased by 18.4% to CAD 48.4 million, or CAD 3.93 per share, compared to CAD 40.9 million, or CAD 3.25 per share, for the same period in 2014.

Morguard Corporation Declares Dividend for the Second Quarter Ended March 31, 2015, Payable on June 30, 2015

The board of directors of Morguard Corporation announced dividend for the second quarter ended March 31, 2015 in the amount of $0.15 per common share will be paid on June 30, 2015 to shareholders of record at the close of business on June 15, 2015.

Morguard Corp. Announces Consolidated Audited Earnings Results for the Year Ended December 31, 2014

Morguard Corp. announced consolidated audited earnings results for the year ended December 31, 2014. For the year, the company reported total Revenues were CAD 566.326 million compared to CAD 516.882 million in 2013. Net operating income was CAD 241.193 million compared to CAD 201.496 million in 2013. Consolidated funds from operations were CAD 174.988 million or CAD 13.98 per basic and diluted share compared to CAD 169.782 million or CAD 13.39 per basic and diluted share in 2013. Net income attributable to common shareholders was CAD 136.703 million or CAD 10.92 per basic and diluted share compared to CAD 286.392 million or CAD 22.58 per basic and diluted share in 2013. The decrease in net income of CAD 149.7 million for the year ended December 31, 2014, was primarily due to a decrease in equity income from investments of CAD 43.4 million, a decrease in other income of CAD 20.9 million, a decrease in net fair value gains of CAD 82.9 million, a loss on business combination of CAD 16.3 million, an increase in interest expense of CAD 12.1 million and an increase in income taxes of CAD 10.0 million. Normalized NOI, increased by CAD 26.8 million to CAD 249.4 million compared to CAD 222.6 million in 2013. The increase was predominantly the result of the acquisition of 12 U.S. multi-unit residential properties in 2013 of CAD 11.8 million, lease cancellation fees of CAD 5.0 million, two acquisitions completed in Canada during 2013 of CAD 4.8 million, the completion of the Performance Court development project in 2014 of CAD 1.5 million and an industrial development project completed in 2013 of CAD 1.3 million. The increase in Consolidated FFO of CAD 5.2 million is mainly due to an increase in net operating income excluding the impact of IFRIC 21 of CAD 43.7 million, an increase in interest and other income of CAD 2.9 million, an increase in Morguard REIT's equity-accounted FFO of CAD 3.7 million and a decrease in current taxes of CAD 0.9 million.

 

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Industry Analysis

MRC

Industry Average

Valuation MRC Industry Range
Price/Earnings 15.9x
Price/Sales 2.4x
Price/Book 0.6x
Price/Cash Flow 14.8x
TEV/Sales NM Not Meaningful
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