(MRG-UN) Morguard North American - Ratings and Ratios

Morguard North American Residential Real Estate Investment Trust (MRG.UN) is an unincorporated, open-ended real estate investment trust governed by Ontario law. The trusts units are traded on the Toronto Stock Exchange under the ticker symbol MRG.UN. The REIT focuses on acquiring and managing high-quality multi-suite residential properties across Canada and the United States, with an emphasis on maximizing long-term unit value through strategic asset and property management. As of October 24, 2023, the portfolio includes 13,089 residential suites and 229,500 square feet of commercial space, spanning key markets in Alberta, Ontario, Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia, and Maryland. The total appraised value of these assets stood at approximately $4.0 billion as of September 30, 2023.

From a technical perspective, MRG.UN has shown a 20-day average volume of 16,279 shares, with a last price of $17.21. The short-term trend, indicated by the 20-day SMA of $16.46, suggests recent upward momentum, while the 50-day SMA of $16.75 and 200-day SMA of $17.25 signal a stable intermediate to long-term trend. The ATR of 0.51 reflects moderate price volatility. On the fundamental side, the REIT has a market capitalization of $884.91 million CAD, with a trailing P/E of 5.94 and a forward P/E of 14.22, indicating expectations of future earnings growth. The P/B ratio of 0.30 suggests undervaluation relative to book value, while the P/S ratio of 2.61 and an RoE of 5.09 highlight moderate profitability and operational efficiency.

Based on the technical and fundamental data, MRG.UN is expected to maintain its stable performance in the near term, supported by its diversified portfolio and strategic management. The REITs ability to navigate evolving market conditions, particularly in its core residential markets, will be critical to sustaining value. Investors should monitor the REITs ability to maintain occupancy rates and manage operational costs in the face of potential economic headwinds.