Earnings
June 22, 2018 - MSI
New! Morneau Shepell Inc. Q1-2018 Earnings & Price Target Update .....
June 21, 2018 - CAR.UN
New! CAP REIT - Q1-2018 Earnings & Price Target Update .....
June 20, 2018 - ACR.UN
Agellan Commercial REIT - Q1-2018 Earnings & Price Target Update .....
June 19, 2018 - CUF.UN
Cominar REIT - Q1-2018 Earnings & Price Target Update .....
June 17, 2018 - SIA
Sienna Senior Living Inc. Q1-2018 Earnings & Price Target Update .....
June 16, 2018 - BLX
Boralex Inc. - Q3-2018 Earnings & Price Target Update .....
June 14, 2018 - PBH
Premium Brands Holding Corp. Q1-2018 Earnings & Price Target Update .....
June 13, 2018 - FTS
Fortis Inc. Q1-2018 Earnings - Price Target Update .....
Recommendation Changes
ACR.UN, CUF.UN, BLX, EMA, KWH.UN, more...

Morguard REIT - Price Target Increase

This is only a sample of the article, please login to view the entire article

Morguard REIT (MRT.UN) owns a portfolio of retail shopping centres and offices comprising 49 properties(54, Dec-31-2014) totaling 8.7M sq. ft.(9.6M sq ft, Dec-31-2014) valued in total at $2.9B ($3.8B as of Dec-31-2014.) By leasable area 40% of properties is located in Ontario, Alberta -25%, BC at 13% with the balance located Saskatchewan, Manitoba, and Quebec. The retail properties contribute 55% of net operating income, office properties 39% and 6% from properties classified as other including industrial properties. For 2016, the retail and office portfolios accounted for 51% and 47% of NOI from income producing properties, respectively. The industrial portfolio accounts for only 2% of net operating income. Included the 49 properties are two properties held for development.

The retail portfolio includes two broad categories of income producing properties: enclosed full-scale, regional shopping centres that are dominant in their respective markets; and neighbourhood and community shopping centres that are primarily anchored by food retailers, discount department stores and banking institutions. Investing across these two broad categories of retail assets allows the Trust to spread its tenant base reducing its exposure to a single category retailer. The office portfolio is focused on well-located, high-quality properties in major Canadian urban centres. The portfolio is balanced between: single-tenant properties under long-term lease to government and large national tenants that work to secure the Trust's cash flow and multi-tenant properties with well distributed lease expiries that are expected to provide increased rental rates on lease renewal.

In Q4-2015 it was decided to redevelop the former Target space at Cambridge Centre, Cambridge, ON, The Centre, Saskatoon, SK, Shoppers Mall and Prairie Mall, Grande Prairie, AB, as well as the former Everest College space at St. Laurent, Ottawa, ON. In Q1-2016 it was decided to redevelop a former Safeway space at Shoppers Mall in Brandon along with space vacated by Target.

You must be a member to view the entire article, please subscribe or login


Login
Username
Password
New Issues & Acquisition
June 23, 2018
New! Coverage Universe - Weekly Price Changes June 15-22, 2018
June 15, 2018
Coverage Universe - Weekly Price Changes June 8-15, 2018
June 13, 2018
Firm Capital Mortgage Investment Trust - New Convertible Debenture
June 9, 2018
Coverage Universe - Weekly Price Changes June 1-8, 2018
June 6, 2018
Exchange Income Corp. 5.35% Convertible Debentures New Issue
June 2, 2018
Coverage Universe - Weekly Price Changes May 25 - June 1, 2018
May 31, 2018
New Issue - National Bank of Canada 4.95% Rate Reset Preferred Shares
May 25, 2018
Coverage Universe - Weekly Price Changes May 18-25, 2018