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How does MRG-UN.TO make money? Does MRG-UN.TO have pricing power? What's the Earnings Whisper? Will MRG-UN.TO profit more as the business scales? What is MRG-UN.TO's management track record? Is MRG-UN.TO's current price justified?

Morguard North American Residential Real Estate Investment Trust

CAD 15.12 -$2.25 (-12.95%)

TSX · 14 Sep 2026 20:00 UTC

Previous Close

CAD 15.27

Day Range

CAD 15.11CAD 15.35

Year Range

CAD 15.1CAD 19.05

Market Cap

528.37M

AVG Volume

27.23K

Trailing/Forward PE

8.22/11.37

PEG ratio

-0.36

Dividend Yield

5.19%

Next Earnings Date

2026-10-26

Primary Exchange

Toronto Stock Exchange

Revenue (CAD)

MRG-UN.TO Revenue (CAD) by quarter
Period	Revenue (CAD)
26 Q2	87.21M
26 Q1	86.47M
25 Q4	88.17M
25 Q3	87.66M
25 Q2	88.54M
25 Q1	90.27M
24 Q4	87.89M
24 Q3	85.79M
24 Q2	85.76M
24 Q1	84.76M

Net Income (CAD)

MRG-UN.TO Net Income (CAD) by quarter
Period	Net Income (CAD)
26 Q2	23.14M
26 Q1	37.39M
25 Q4	27.88M
25 Q3	7.85M
25 Q2	29.17M
25 Q1	38.07M
24 Q4	48.6M
24 Q3	-20.79M
24 Q2	48.32M
24 Q1	25.73M

Operating Income (CAD)

MRG-UN.TO Operating Income (CAD) by quarter
Period	Operating Income (CAD)
26 Q2	48.58M
26 Q1	25.61M
25 Q4	61.28M
25 Q3	50.73M
25 Q2	56.9M
25 Q1	20.82M
24 Q4	86.83M
24 Q3	52.03M
24 Q2	58.06M
24 Q1	-5.08M

EBITDA (CAD)

MRG-UN.TO EBITDA (CAD) by quarter
Period	EBITDA (CAD)
26 Q2	50.04M
26 Q1	61.15M
25 Q4	52.33M
25 Q3	50.73M
25 Q2	56.53M
25 Q1	12.83M
24 Q4	57.23M
24 Q3	48.25M
24 Q2	59.07M
24 Q1	44.74M

Cash Flows (CAD)

MRG-UN.TO Cash Flows (CAD) by quarter
Period	Cash Flows (CAD)
26 Q2	30.76M
26 Q1	17.67M
25 Q4	23.09M
25 Q3	18.68M
25 Q2	30.65M
25 Q1	15.35M
24 Q4	31.72M
24 Q3	15.13M
24 Q2	32.13M
24 Q1	18.51M

EPS (CAD)

MRG-UN.TO EPS (CAD) by quarter
Period	EPS (CAD)
26 Q2	0.44
26 Q1	0.72
25 Q4	0.51
25 Q3	0.14
25 Q2	0.82
25 Q1	1.07
24 Q4	1.31
24 Q3	-0.55
24 Q2	1.28
24 Q1	0.68

Expenses (CAD)

MRG-UN.TO Expenses (CAD) by quarter
Period	Expenses (CAD)
26 Q2	0
26 Q1	5.44M
25 Q4	0
25 Q3	0
25 Q2	6.04M
25 Q1	5.82M
24 Q4	5.49M
24 Q3	5.53M
24 Q2	5.66M
24 Q1	5.49M

Cash & Debt (CAD)

MRG-UN.TO Cash & Debt (CAD) by quarter
Period	Cash & Debt (CAD)
26 Q2	203.94M
26 Q1	81.32M
25 Q4	114.63M
25 Q3	81.77M
25 Q2	66M
25 Q1	49.12M
24 Q4	51.26M
24 Q3	103.27M
24 Q2	131.73M
24 Q1	22.2M

Debt ratios

MRG-UN.TO Debt ratios by quarter
Period	Debt ratios
26 Q2	7.83
26 Q1	7.7
25 Q4	9.6
25 Q3	9.65
25 Q2	9.74
25 Q1	10.04
24 Q4	8.32
24 Q3	8.62
24 Q2	8.65
24 Q1	6.52

Margins

MRG-UN.TO Margins by quarter
Period	Margins
26 Q2	55.7%
26 Q1	18.49%
25 Q4	58.43%
25 Q3	56.02%
25 Q2	57.45%
25 Q1	16.62%
24 Q4	63.8%
24 Q3	54.2%
24 Q2	58.01%
24 Q1	18.61%

Return on Capital

MRG-UN.TO Return on Capital by quarter
Period	Return on Capital
26 Q2	1.05%
26 Q1	1.73%
25 Q4	1.32%
25 Q3	0.37%
25 Q2	1.41%
25 Q1	1.79%
24 Q4	2.3%
24 Q3	-1.04%
24 Q2	2.35%
24 Q1	1.28%

Shares Outstanding

MRG-UN.TO Shares Outstanding by quarter
Period	Shares Outstanding
26 Q2	52.17M
26 Q1	52.16M
25 Q4	52.2M
25 Q3	52.28M
25 Q2	35.39M
25 Q1	53.32M
24 Q4	36.99M
24 Q3	37.69M
24 Q2	37.69M
24 Q1	37.69M

Dividends (CAD)

MRG-UN.TO Dividends (CAD) by quarter
Period	Dividends (CAD)
Aug 26	0.07
Jul 26	0.07
Jun 26	0.07
May 26	0.07
Apr 26	0.07
Mar 26	0.07
Feb 26	0.07
Jan 26	0.07
Dec 25	0.07
Nov 25	0.07

Book Value Per Share (CAD)

MRG-UN.TO Book Value Per Share (CAD) by quarter
Period	Book Value Per Share (CAD)
26 Q2	42.26
26 Q1	41.39
25 Q4	40.35
25 Q3	40.26
25 Q2	58.66
25 Q1	39.99
24 Q4	57.1
24 Q3	53.15
24 Q2	54.5
24 Q1	53.21

Total Assets (CAD)

MRG-UN.TO Total Assets (CAD) by quarter
Period	Total Assets (CAD)
26 Q2	4.77B
26 Q1	4.62B
25 Q4	4.54B
25 Q3	4.6B
25 Q2	4.54B
25 Q1	4.65B
24 Q4	4.57B
24 Q3	4.38B
24 Q2	4.38B
24 Q1	4.21B

PE Ratio

MRG-UN.TO PE Ratio by quarter
Period	PE Ratio
Sep 26	7.71
Sep 26	7.79
Sep 26	8.03
Aug 26	8.15
Aug 26	8.22
Aug 26	8.35
Aug 26	8.36
Jul 26	8.29
Jul 26	8.53
Jul 26	8.59
Jul 26	8.65
Jul 26	8.84
Jun 26	8.68
Jun 26	8.57
Jun 26	8.67
Jun 26	8.48
May 26	8.57
May 26	8.39
May 26	8.35
May 26	8.62
May 26	8.51
Apr 26	8.93
Apr 26	9.05
Apr 26	8.79
Apr 26	8.67
Mar 26	6.99
Mar 26	6.94
Mar 26	7.25
Mar 26	7.63
Feb 26	7.92
Feb 26	7.91
Feb 26	7.9
Feb 26	7.75
Jan 26	7.72
Jan 26	7.79
Jan 26	7.75
Jan 26	7.69
Jan 26	7.34
Dec 25	6.42
Dec 25	6.5
Dec 25	6.37
Dec 25	6.16
Nov 25	6.39
Nov 25	6.33
Nov 25	6.49
Nov 25	6.52
Oct 25	6.48
Oct 25	6.74
Oct 25	6.62
Oct 25	6.73
Oct 25	6.84
Sep 25	8.52
Sep 25	8.61
Sep 25	8.71
Sep 25	8.74
Aug 25	8.85
Aug 25	8.89
Aug 25	8.41
Aug 25	8.32
Aug 25	8.48
Jul 25	8.47
Jul 25	8.55
Jul 25	8.69
Jul 25	8.64
Jun 25	6.66
Jun 25	6.63
Jun 25	6.66
Jun 25	6.69
May 25	6.63
May 25	6.25
May 25	6.35
May 25	6.32
May 25	6.27
Apr 25	6.11
Apr 25	6.11
Apr 25	5.84
Apr 25	5.93
Mar 25	8.31
Mar 25	8.34
Mar 25	8.27
Mar 25	8.29
Feb 25	8.01
Feb 25	7.94
Feb 25	7.91
Feb 25	8.23
Jan 25	8.09
Jan 25	8.14
Jan 25	8.1
Jan 25	8.48
Jan 25	8.44
Dec 24	4.63
Dec 24	4.66
Dec 24	4.83
Dec 24	5
Nov 24	5.01
Nov 24	4.92
Nov 24	4.97
Nov 24	4.91
Nov 24	4.79
Oct 24	5.07

Free Cash Flow Yield

MRG-UN.TO Free Cash Flow Yield by quarter
Period	Free Cash Flow Yield
Sep 26	11.42%
Sep 26	11.31%
Sep 26	10.97%
Aug 26	10.8%
Aug 26	10.71%
Aug 26	10.54%
Aug 26	10.54%
Jul 26	10.63%
Jul 26	10.33%
Jul 26	10.26%
Jul 26	10.18%
Jul 26	9.97%
Jun 26	9.82%
Jun 26	9.95%
Jun 26	9.83%
Jun 26	10.05%
May 26	9.95%
May 26	10.15%
May 26	10.2%
May 26	9.89%
May 26	10.01%
Apr 26	9.55%
Apr 26	9.42%
Apr 26	9.7%
Apr 26	9.83%
Mar 26	11.15%
Mar 26	11.24%
Mar 26	10.75%
Mar 26	10.21%
Feb 26	9.83%
Feb 26	9.85%
Feb 26	9.87%
Feb 26	10.05%
Jan 26	10.1%
Jan 26	10%
Jan 26	10.06%
Jan 26	10.14%
Jan 26	10.62%
Dec 25	15.22%
Dec 25	15.03%
Dec 25	15.34%
Dec 25	15.85%
Nov 25	15.3%
Nov 25	15.43%
Nov 25	15.05%
Nov 25	14.99%
Oct 25	15.07%
Oct 25	14.49%
Oct 25	14.75%
Oct 25	14.52%
Oct 25	14.29%
Sep 25	9.69%
Sep 25	9.6%
Sep 25	9.48%
Sep 25	9.45%
Aug 25	9.33%
Aug 25	9.3%
Aug 25	9.82%
Aug 25	9.93%
Aug 25	9.74%
Jul 25	9.75%
Jul 25	9.66%
Jul 25	9.51%
Jul 25	9.56%
Jun 25	14.38%
Jun 25	14.44%
Jun 25	14.38%
Jun 25	14.31%
May 25	14.44%
May 25	15.33%
May 25	15.06%
May 25	15.15%
May 25	15.26%
Apr 25	15.66%
Apr 25	15.66%
Apr 25	16.38%
Apr 25	16.14%
Mar 25	13.65%
Mar 25	13.6%
Mar 25	13.73%
Mar 25	13.7%
Feb 25	14.17%
Feb 25	14.29%
Feb 25	14.34%
Feb 25	13.78%
Jan 25	14.02%
Jan 25	13.95%
Jan 25	14%
Jan 25	13.38%
Jan 25	13.45%
Dec 24	13.51%
Dec 24	13.41%
Dec 24	12.94%
Dec 24	12.51%
Nov 24	12.46%
Nov 24	12.7%
Nov 24	12.57%
Nov 24	12.73%
Nov 24	13.05%
Oct 24	12.32%

Price to Sales

MRG-UN.TO Price to Sales by quarter
Period	Price to Sales
Sep 26	2.25
Sep 26	2.27
Sep 26	2.34
Aug 26	2.38
Aug 26	2.4
Aug 26	2.44
Aug 26	2.44
Jul 26	2.42
Jul 26	2.49
Jul 26	2.5
Jul 26	2.52
Jul 26	2.58
Jun 26	2.52
Jun 26	2.49
Jun 26	2.52
Jun 26	2.46
May 26	2.49
May 26	2.44
May 26	2.43
May 26	2.5
May 26	2.47
Apr 26	2.59
Apr 26	2.63
Apr 26	2.55
Apr 26	2.52
Mar 26	2.44
Mar 26	2.42
Mar 26	2.53
Mar 26	2.66
Feb 26	2.77
Feb 26	2.76
Feb 26	2.76
Feb 26	2.71
Jan 26	2.69
Jan 26	2.72
Jan 26	2.7
Jan 26	2.68
Jan 26	2.56
Dec 25	1.73
Dec 25	1.75
Dec 25	1.72
Dec 25	1.66
Nov 25	1.72
Nov 25	1.71
Nov 25	1.75
Nov 25	1.76
Oct 25	1.75
Oct 25	1.82
Oct 25	1.79
Oct 25	1.81
Oct 25	1.84
Sep 25	2.78
Sep 25	2.81
Sep 25	2.85
Sep 25	2.85
Aug 25	2.89
Aug 25	2.9
Aug 25	2.75
Aug 25	2.72
Aug 25	2.77
Jul 25	2.77
Jul 25	2.79
Jul 25	2.84
Jul 25	2.82
Jun 25	1.97
Jun 25	1.96
Jun 25	1.97
Jun 25	1.98
May 25	1.96
May 25	1.85
May 25	1.88
May 25	1.87
May 25	1.86
Apr 25	1.81
Apr 25	1.81
Apr 25	1.73
Apr 25	1.75
Mar 25	1.91
Mar 25	1.92
Mar 25	1.9
Mar 25	1.9
Feb 25	1.84
Feb 25	1.82
Feb 25	1.82
Feb 25	1.89
Jan 25	1.86
Jan 25	1.87
Jan 25	1.86
Jan 25	1.95
Jan 25	1.94
Dec 24	1.9
Dec 24	1.92
Dec 24	1.99
Dec 24	2.06
Nov 24	2.06
Nov 24	2.03
Nov 24	2.05
Nov 24	2.02
Nov 24	1.97
Oct 24	2.09

EV/EBITDA

MRG-UN.TO EV/EBITDA by quarter
Period	EV/EBITDA
Sep 26	11.27
Sep 26	11.31
Sep 26	11.42
Aug 26	11.48
Aug 26	11.51
Aug 26	11.57
Aug 26	11.57
Jul 26	11.54
Jul 26	11.65
Jul 26	11.68
Jul 26	11.71
Jul 26	11.8
Jun 26	14.79
Jun 26	14.72
Jun 26	14.78
Jun 26	14.67
May 26	14.72
May 26	14.62
May 26	14.59
May 26	14.75
May 26	14.69
Apr 26	14.94
Apr 26	15.01
Apr 26	14.85
Apr 26	14.78
Mar 26	14.53
Mar 26	14.49
Mar 26	14.71
Mar 26	14.98
Feb 26	15.18
Feb 26	15.17
Feb 26	15.16
Feb 26	15.06
Jan 26	15.04
Jan 26	15.09
Jan 26	15.06
Jan 26	15.01
Jan 26	14.77
Dec 25	13.23
Dec 25	13.28
Dec 25	13.21
Dec 25	13.09
Nov 25	13.22
Nov 25	13.18
Nov 25	13.27
Nov 25	13.29
Oct 25	13.27
Oct 25	13.41
Oct 25	13.34
Oct 25	13.4
Oct 25	13.46
Sep 25	15.53
Sep 25	15.58
Sep 25	15.65
Sep 25	15.67
Aug 25	15.74
Aug 25	15.76
Aug 25	15.45
Aug 25	15.39
Aug 25	15.5
Jul 25	15.5
Jul 25	15.55
Jul 25	15.63
Jul 25	15.6
Jun 25	11.55
Jun 25	11.54
Jun 25	11.55
Jun 25	11.57
May 25	11.54
May 25	11.35
May 25	11.41
May 25	11.39
May 25	11.37
Apr 25	11.29
Apr 25	11.29
Apr 25	11.16
Apr 25	11.2
Mar 25	12.18
Mar 25	12.19
Mar 25	12.16
Mar 25	12.17
Feb 25	12.05
Feb 25	12.02
Feb 25	12.01
Feb 25	12.15
Jan 25	12.09
Jan 25	12.1
Jan 25	12.09
Jan 25	12.25
Jan 25	12.23
Dec 24	12.22
Dec 24	12.24
Dec 24	12.38
Dec 24	12.5
Nov 24	12.52
Nov 24	12.44
Nov 24	12.48
Nov 24	12.44
Nov 24	12.34
Oct 24	12.56

Price/Operating Cashflow

MRG-UN.TO Price/Operating Cashflow by quarter
Period	Price/Operating Cashflow
Sep 26	8.75
Sep 26	8.84
Sep 26	9.11
Aug 26	9.26
Aug 26	9.33
Aug 26	9.48
Aug 26	9.49
Jul 26	9.41
Jul 26	9.68
Jul 26	9.75
Jul 26	9.83
Jul 26	10.03
Jun 26	10.18
Jun 26	10.05
Jun 26	10.17
Jun 26	9.95
May 26	10.05
May 26	9.85
May 26	9.8
May 26	10.11
May 26	9.99
Apr 26	10.47
Apr 26	10.62
Apr 26	10.31
Apr 26	10.17
Mar 26	8.97
Mar 26	8.9
Mar 26	9.3
Mar 26	9.79
Feb 26	10.17
Feb 26	10.15
Feb 26	10.13
Feb 26	9.95
Jan 26	9.9
Jan 26	10
Jan 26	9.94
Jan 26	9.86
Jan 26	9.42
Dec 25	6.57
Dec 25	6.65
Dec 25	6.52
Dec 25	6.31
Nov 25	6.54
Nov 25	6.48
Nov 25	6.64
Nov 25	6.67
Oct 25	6.64
Oct 25	6.9
Oct 25	6.78
Oct 25	6.89
Oct 25	7
Sep 25	10.32
Sep 25	10.42
Sep 25	10.55
Sep 25	10.58
Aug 25	10.72
Aug 25	10.76
Aug 25	10.18
Aug 25	10.07
Aug 25	10.27
Jul 25	10.26
Jul 25	10.35
Jul 25	10.52
Jul 25	10.46
Jun 25	6.95
Jun 25	6.92
Jun 25	6.95
Jun 25	6.99
May 25	6.92
May 25	6.52
May 25	6.64
May 25	6.6
May 25	6.55
Apr 25	6.38
Apr 25	6.38
Apr 25	6.1
Apr 25	6.19
Mar 25	7.33
Mar 25	7.35
Mar 25	7.28
Mar 25	7.3
Feb 25	7.06
Feb 25	7
Feb 25	6.97
Feb 25	7.26
Jan 25	7.13
Jan 25	7.17
Jan 25	7.14
Jan 25	7.47
Jan 25	7.44
Dec 24	7.4
Dec 24	7.46
Dec 24	7.73
Dec 24	7.99
Nov 24	8.02
Nov 24	7.87
Nov 24	7.95
Nov 24	7.86
Nov 24	7.67
Oct 24	8.12

Price to Book

MRG-UN.TO Price to Book by quarter
Period	Price to Book
Sep 26	0.37
Sep 26	0.37
Sep 26	0.38
Aug 26	0.39
Aug 26	0.39
Aug 26	0.4
Aug 26	0.4
Jul 26	0.39
Jul 26	0.4
Jul 26	0.41
Jul 26	0.41
Jul 26	0.42
Jun 26	0.42
Jun 26	0.42
Jun 26	0.42
Jun 26	0.41
May 26	0.42
May 26	0.41
May 26	0.41
May 26	0.42
May 26	0.42
Apr 26	0.44
Apr 26	0.44
Apr 26	0.43
Apr 26	0.42
Mar 26	0.41
Mar 26	0.41
Mar 26	0.43
Mar 26	0.45
Feb 26	0.47
Feb 26	0.46
Feb 26	0.46
Feb 26	0.46
Jan 26	0.45
Jan 26	0.46
Jan 26	0.46
Jan 26	0.45
Jan 26	0.43
Dec 25	0.29
Dec 25	0.3
Dec 25	0.29
Dec 25	0.28
Nov 25	0.29
Nov 25	0.29
Nov 25	0.3
Nov 25	0.3
Oct 25	0.3
Oct 25	0.31
Oct 25	0.3
Oct 25	0.31
Oct 25	0.31
Sep 25	0.46
Sep 25	0.46
Sep 25	0.47
Sep 25	0.47
Aug 25	0.47
Aug 25	0.48
Aug 25	0.45
Aug 25	0.45
Aug 25	0.45
Jul 25	0.45
Jul 25	0.46
Jul 25	0.47
Jul 25	0.46
Jun 25	0.32
Jun 25	0.32
Jun 25	0.32
Jun 25	0.32
May 25	0.32
May 25	0.3
May 25	0.31
May 25	0.3
May 25	0.3
Apr 25	0.29
Apr 25	0.29
Apr 25	0.28
Apr 25	0.29
Mar 25	0.33
Mar 25	0.33
Mar 25	0.32
Mar 25	0.32
Feb 25	0.31
Feb 25	0.31
Feb 25	0.31
Feb 25	0.32
Jan 25	0.32
Jan 25	0.32
Jan 25	0.32
Jan 25	0.33
Jan 25	0.33
Dec 24	0.31
Dec 24	0.32
Dec 24	0.33
Dec 24	0.34
Nov 24	0.34
Nov 24	0.33
Nov 24	0.34
Nov 24	0.33
Nov 24	0.33
Oct 24	0.34

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Morguard North American Residential Real Estate Investment Trust

Video analysis: MRG-UN.TO

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