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Morguard (OTC)
(TSX:MRC)
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Rating:62Neutral
Price Target:
C$121.00
▲(5.40% Upside)
Action:Downgraded
Date:08/10/26
The score reflects solid underlying financial performance (re-accelerating revenue, strong margins, and good cash conversion) and supportive valuation (low P/E), tempered by balance-sheet leverage and weak cash flow coverage of debt. Technicals are a notable headwind, with the stock below major moving averages and negative momentum readings.
Positive Factors
Revenue growth and profitability
The recent revenue rebound, combined with strong gross and net margins, indicates effective monetization of the property portfolio and operating platform. Sustained tenant income and disciplined cost management could support earnings over the next several quarters.
Negative Factors
Meaningful balance-sheet leverage
Leverage remains material relative to the company’s moderate returns on equity, leaving less financial cushion if refinancing costs rise or property values weaken. Debt servicing and capital allocation may therefore constrain flexibility during a softer real estate cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and profitability
The recent revenue rebound, combined with strong gross and net margins, indicates effective monetization of the property portfolio and operating platform. Sustained tenant income and disciplined cost management could support earnings over the next several quarters.
Read all positive factors
Morguard (OTC) (MRC) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.22B
Dividend Yield0.7%
Average Volume (3M)6.35K
Price to Earnings (P/E)5.9
Beta (1Y)0.23
Revenue Growth-1.40%
EPS Growth9.18%
CountryCA
Employees3
SectorReal Estate
Sector Strength53
IndustryReal Estate - Diversified
Share Statistics
EPS (TTM)19.28
Shares Outstanding10,678,268
10 Day Avg. Volume13,171
30 Day Avg. Volume6,346
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)0.28
Price to Sales (P/S)1.10
P/FCF Ratio5.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$150.00Price Target Upside30.66% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)17.61
Revenue Forecast (FY)C$1.07B
Morguard (OTC) Business Overview & Revenue Model
Company Description
Morguard Corporation, a real estate investment and management company, engages in property ownership, development, and investment advisory services in Canada and the United States. It operates in four segments: Multi-Suite Residential, Retail, Off...
How the Company Makes Money
Morguard primarily makes money by earning recurring cash flow from its real estate and real-estate-related operations. Key revenue and earnings drivers typically include: (1) Rental and property income: The company earns rent and recoveries from t...
Morguard (OTC) Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
56
Neutral
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.11B | 1.12B | 1.11B | 1.23B | 1.12B | 1.02B |
| Gross Profit | 603.70M | 607.03M | 518.72M | 634.03M | 500.36M | 533.30M |
| EBITDA | 572.28M | 503.20M | 557.29M | 362.60M | 535.04M | 427.23M |
| Net Income | 205.91M | 174.87M | 261.80M | 74.18M | 122.77M | 249.76M |
Balance Sheet | ||||||
| Total Assets | 12.39B | 11.84B | 11.76B | 11.62B | 11.71B | 11.49B |
| Cash, Cash Equivalents and Short-Term Investments | 374.66M | 184.62M | 140.72M | 116.52M | 111.81M | 173.66M |
| Total Debt | 5.69B | 5.62B | 5.44B | 5.81B | 5.80B | 5.80B |
| Total Liabilities | 7.39B | 7.07B | 7.04B | 7.28B | 7.32B | 7.32B |
| Stockholders Equity | 4.61B | 4.39B | 4.29B | 3.89B | 3.87B | 3.63B |
Cash Flow | ||||||
| Free Cash Flow | 222.16M | 209.29M | 260.21M | 288.52M | 251.19M | 264.77M |
| Operating Cash Flow | 227.87M | 214.44M | 263.49M | 297.89M | 252.85M | 265.44M |
| Investing Cash Flow | -186.79M | -205.82M | 371.39M | -332.16M | -84.51M | -125.62M |
| Financing Cash Flow | 165.74M | 40.59M | -613.37M | 37.65M | -234.49M | -106.63M |
Morguard (OTC) Technical Analysis
Negative
114.80
Price Trends
117.11
Negative
119.02
Negative
117.25
Negative
Market Momentum
-0.61
Negative
44.14
Neutral
32.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MRC, the sentiment is Negative. The current price of 114.8 is above the 20-day moving average (MA) of 114.73, below the 50-day MA of 117.11, and below the 200-day MA of 117.25, indicating a bearish trend. The MACD of -0.61 indicates Negative momentum. The RSI at 44.14 is Neutral, neither overbought nor oversold. The STOCH value of 32.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:MRC.
Morguard (OTC) Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | C$1.56B | 8.97 | 9.49% | 0.17% | 5.14% | -43.08% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | C$1.22B | 5.94 | 4.61% | 0.70% | -1.40% | 9.18% | |
59 Neutral | C$821.31M | 8.55 | 4.74% | 4.99% | -0.84% | 2.95% | |
59 Neutral | C$472.03M | 98.59 | 0.56% | 3.43% | -4.01% | ― | |
58 Neutral | C$2.14B | 298.00 | 0.25% | 4.03% | 4.80% | -99.27% | |
52 Neutral | C$1.20B | -0.59 | -47.27% | 11.55% | -2.72% | -221.24% |
* Real Estate Sector Average
TSE:MRC
Morguard (OTC)
114.55
0.08
0.07%
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Morguard (OTC) Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
Morguard Boosts Q2 Earnings as Debt Refinancing and Asset Sales Strengthen Balance Sheet
Positive
Aug 5, 2026
Morguard reported a solid second quarter of 2026 marked by major balance sheet moves, including issuing $250 million of lower-cost Series J debentures and redeeming $175 million of higher-yield Series H notes, as well as refinancing $305.8 million...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.