Morguard Completes $250 Million Debenture Offering, Strengthening Market Position

Morguard (OTC) ( (TSE:MRC) ) has shared an announcement.

Morguard Corporation has successfully completed a $250 million offering of 5.00% Series I Senior Unsecured Debentures, maturing in 2028. The offering, which was well-received with over $1 billion in demand from 38 buyers, will be used to repay indebtedness and for general corporate purposes. This transaction marks a significant milestone for Morguard, reflecting strong market confidence in its strategy and financial strength. The debentures received a ‘BB (high)’ rating with a ‘Positive’ trend from DBRS Morningstar, and the transaction positions Morguard for continued growth and future offerings.

The most recent analyst rating on (TSE:MRC) stock is a Hold with a C$124.00 price target. To see the full list of analyst forecasts on Morguard (OTC) stock, see the TSE:MRC Stock Forecast page.

Spark’s Take on TSE:MRC Stock

According to Spark, TipRanks’ AI Analyst, TSE:MRC is a Neutral.

Morguard’s overall stock score reflects strong operational efficiency and a potentially undervalued stock, but is tempered by high leverage and declining revenue growth. Technical indicators suggest limited momentum, contributing to a cautious outlook.

To see Spark’s full report on TSE:MRC stock, click here.

More about Morguard (OTC)

Morguard Corporation is a major North American real estate and property management company with extensive retail, office, hotel, and residential holdings. It operates through its investments in Morguard Real Estate Investment Trust and Morguard North American Residential REIT, and provides real estate management services to institutional and other investors. Morguard’s owned and managed portfolio of assets is valued at $18.7 billion.

Average Trading Volume: 1,638

Technical Sentiment Signal: Hold

Current Market Cap: C$1.23B

See more data about MRC stock on TipRanks’ Stock Analysis page.