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Last C$135.00 CAD
Change Today -4.47 / -3.20%
Volume 2.1K
MRC On Other Exchanges
Symbol
Exchange
Toronto
OTC US
As of 3:59 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

morguard corp (MRC) Snapshot

Open
C$138.52
Previous Close
C$139.47
Day High
C$139.90
Day Low
C$135.00
52 Week High
03/4/15 - C$159.99
52 Week Low
08/24/15 - C$128.11
Market Cap
1.7B
Average Volume 10 Days
4.3K
EPS TTM
C$7.72
Shares Outstanding
12.5M
EX-Date
09/11/15
P/E TM
17.5x
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. Announces Third Quarterly Dividend Payable on September 30, 2015

The board of directors of Morguard Corporation announced that the third quarterly, eligible dividend of 2015 in the amount of $0.15 per common share will be paid on September 30, 2015, to shareholders of record at the close of business on September 15, 2015.

Morguard Corp. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Morguard Corp. reported earnings results for the second quarter and six months ended June 30, 2015. The company reported total revenue of CAD 217,460,000, net operating income of CAD 111,356,000, funds from operations of CAD 54,034,000 or CAD 4.40 per basic and diluted share, net income of CAD 30,966,000 or CAD 3.16 per basic and diluted share against total revenue of CAD 137,072,000, net operating income of CAD 64,427,000, funds from operations of CAD 35,380,000 or CAD 2.83 per basic and diluted share, net income of CAD 32,273,000 or CAD 2.57 per basic and diluted share a year ago. The decrease in net income of CAD 1.3 million for the three months ended June 30, 2015, was primarily due to the following items: decrease in fair value gains of CAD 31.4 million; a decrease in equity income from investments of CAD 14.9 million; an increase in interest expense of CAD 10.9 million; an increase in net operating income of CAD 46.9 million; a decrease in income taxes of CAD 4.7 million; and a decrease in other expense of CAD 5.9 million. For the six months, the company reported total revenue of CAD 436,007,000, net operating income of CAD 200,993,000, funds from operations of CAD 95,600,000 or CAD 7.76 per basic and diluted share, net income of CAD 35,505,000 or CAD 2.65 per basic and diluted share against total revenue of CAD 277,064,000, net operating income of CAD 110,503,000, funds from operations of CAD 79,292,000 or CAD 6.32 per basic and diluted share, net income of CAD 59,018,000 or CAD 4.69 per basic and diluted share a year ago.

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.

 

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Industry Analysis

MRC

Industry Average

Valuation MRC Industry Range
Price/Earnings 14.8x
Price/Sales 2.2x
Price/Book 0.6x
Price/Cash Flow 13.7x
TEV/Sales NM Not Meaningful
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