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

Morguard Real Estate Investment Trust

CAD 7.03 +$0.68 (+10.71%)

TSX · 14 Sep 2026 19:59 UTC

Previous Close

CAD 7.02

Day Range

CAD 7CAD 7.04

Year Range

CAD 5.65CAD 7.37

Market Cap

469.43M

AVG Volume

17.58K

Trailing/Forward PE

99.01/8.68

PEG ratio

1.78

Dividend Yield

3.41%

Next Earnings Date

2026-10-28

Primary Exchange

Toronto Stock Exchange

Revenue (CAD)

MRT-UN.TO Revenue (CAD) by year
Period	Revenue (CAD)
2025	239.34M
2024	259.17M
2023	255.08M
2022	242.63M
2021	241.44M
2020	253.76M
2019	273.07M
2018	276.47M
2017	278.75M
2016	280.73M

Net Income (CAD)

MRT-UN.TO Net Income (CAD) by year
Period	Net Income (CAD)
2025	-16.56M
2024	-58.82M
2023	-95.99M
2022	-212.86M
2021	4.88M
2020	-357.42M
2019	14.84M
2018	73.02M
2017	67.31M
2016	57.21M

Operating Income (CAD)

MRT-UN.TO Operating Income (CAD) by year
Period	Operating Income (CAD)
2025	107.85M
2024	124.64M
2023	121.63M
2022	117.33M
2021	98.88M
2020	117.01M
2019	145.04M
2018	145.63M
2017	152.06M
2016	163.15M

EBITDA (CAD)

MRT-UN.TO EBITDA (CAD) by year
Period	EBITDA (CAD)
2025	44.56M
2024	73.72M
2023	120.77M
2022	3.46M
2021	78.13M
2020	-191.16M
2019	139.45M
2018	127.03M
2017	195.34M
2016	147.17M

Cash Flows (CAD)

MRT-UN.TO Cash Flows (CAD) by year
Period	Cash Flows (CAD)
2025	16.38M
2024	22.32M
2023	27.28M
2022	41.55M
2021	63.14M
2020	15.1M
2019	37.02M
2018	22.65M
2017	38.99M
2016	83.93M

EPS (CAD)

MRT-UN.TO EPS (CAD) by year
Period	EPS (CAD)
2025	-0.25
2024	-0.96
2023	-1.5
2022	-3.31
2021	0.05
2020	-5.76
2019	0.18
2018	1
2017	0.89
2016	0.8

Expenses (CAD)

MRT-UN.TO Expenses (CAD) by year
Period	Expenses (CAD)
2025	26.81M
2024	45.97M
2023	42.71M
2022	36.13M
2021	20.9M
2020	35.4M
2019	56.6M
2018	75.6M
2017	66.35M
2016	57.34M

Cash & Debt (CAD)

MRT-UN.TO Cash & Debt (CAD) by year
Period	Cash & Debt (CAD)
2025	7.08M
2024	7.9M
2023	7.28M
2022	9.71M
2021	11.27M
2020	8.65M
2019	5.78M
2018	10.65M
2017	14.75M
2016	112.7M

Debt ratios

MRT-UN.TO Debt ratios by year
Period	Debt ratios
2025	5.07
2024	4.44
2023	112.05
2022	42.31
2021	8.38
2020	4.97
2019	2.2
2018	2.23

Margins

MRT-UN.TO Margins by year
Period	Margins
2025	46.67%
2024	49.53%
2023	49.32%
2022	50.35%
2021	50.58%
2020	48.78%
2019	54.92%
2018	55.01%
2017	56.33%
2016	57.17%

Return on Capital

MRT-UN.TO Return on Capital by year
Period	Return on Capital
2025	-1.92%
2024	-6.65%
2023	-9.99%
2022	-20.26%
2021	0.42%
2020	-30.87%
2019	0.97%
2018	4.62%
2017	4.3%
2016	3.68%

Shares Outstanding

MRT-UN.TO Shares Outstanding by year
Period	Shares Outstanding
2025	65.99M
2024	64.28M
2023	64.26M
2022	64.21M
2021	64.14M
2020	63.49M
2019	60.52M
2018	60.7M
2017	60.69M
2016	60.6M

Dividends (CAD)

MRT-UN.TO Dividends (CAD) by year
Period	Dividends (CAD)
2026	0.16
2025	0.24
2024	0.25
2023	0.24
2022	0.24
2021	0.27
2020	0.64
2019	0.96
2018	0.96
2017	0.96

Book Value Per Share (CAD)

MRT-UN.TO Book Value Per Share (CAD) by year
Period	Book Value Per Share (CAD)
2025	13.1
2024	13.76
2023	14.96
2022	16.36
2021	17.96
2020	18.23
2019	25.41
2018	26.04
2017	25.79
2016	25.66

Total Assets (CAD)

MRT-UN.TO Total Assets (CAD) by year
Period	Total Assets (CAD)
2025	2.16B
2024	2.17B
2023	2.28B
2022	2.38B
2021	2.49B
2020	2.56B
2019	2.94B
2018	2.98B
2017	2.92B
2016	3.03B

PE Ratio

MRT-UN.TO PE Ratio by year
Period	PE Ratio
Sep 26	410.4
Sep 26	409.82
Sep 26	408.65
Aug 26	410.99
Aug 26	409.82
Aug 26	420.33
Aug 26	408.65
Jul 26	397.56
Jul 26	408.07
Jul 26	405.73
Jul 26	410.4
Jul 26	412.74
Dec 22	6.87
Dec 22	6.84
Dec 22	6.87
Dec 22	6.96
Nov 22	6.91
Nov 22	6.88
Nov 22	6.9
Nov 22	6.88
Oct 22	6.87
Oct 22	6.92
Oct 22	6.87
Oct 22	6.9
Sep 22	6.9
Sep 22	11.83
Sep 22	11.83
Sep 22	11.86
Sep 22	11.83
Aug 22	11.86
Aug 22	11.86
Aug 22	12
Aug 22	11.86
Jul 22	11.86
Jul 22	11.9
Jul 22	11.81
Jul 22	11.86
Jun 22	12.05
Jun 22	67.89
Jun 22	67.62
Jun 22	67.89
Jun 22	69.33
May 22	69.59
May 22	67.62
May 22	70.12
May 22	69.59
Apr 22	73.53
Apr 22	77.47
Apr 22	71.96
Apr 22	71.17
Apr 22	70.64
Jun 20	20.92
Jun 20	21.53
Jun 20	22.47
Jun 20	24.14
May 20	20.72
May 20	20.39
May 20	18.39
May 20	20.76
May 20	21.12
Apr 20	22.75
Apr 20	23.24
Apr 20	21.73
Apr 20	17.58
Mar 20	12.54
Mar 20	12.02
Mar 20	20.94
Mar 20	28.02
Feb 20	27.09
Feb 20	30.1
Feb 20	29.64
Feb 20	29.76
Jan 20	30.02
Jan 20	30.07
Jan 20	28.19
Jan 20	28.04
Jan 20	28.09
Dec 19	28.62
Dec 19	28.45
Dec 19	27.72
Dec 19	28.6
Nov 19	28.6
Nov 19	28.21
Nov 19	28.57
Nov 19	27.79
Nov 19	27.72
Oct 19	28.4
Oct 19	28.55
Oct 19	28.57
Oct 19	28.23
Sep 19	9.81
Sep 19	9.74
Sep 19	9.6
Sep 19	9.4
Aug 19	9.39
Aug 19	9.36
Aug 19	9.48
Aug 19	9.87
Aug 19	10.04
Jul 19	10.32

Free Cash Flow Yield

MRT-UN.TO Free Cash Flow Yield by year
Period	Free Cash Flow Yield
Sep 26	4.07%
Sep 26	4.07%
Sep 26	4.09%
Aug 26	4.06%
Aug 26	4.07%
Aug 26	3.97%
Aug 26	4.09%
Jul 26	4.2%
Jul 26	4.09%
Jul 26	4.12%
Jul 26	4.07%
Jul 26	4.05%
Jun 26	3.54%
Jun 26	3.67%
Jun 26	3.65%
Jun 26	3.73%
May 26	3.74%
May 26	3.82%
May 26	3.79%
May 26	3.81%
May 26	3.8%
Apr 26	3.72%
Apr 26	3.76%
Apr 26	3.73%
Apr 26	3.76%
Mar 26	4.04%
Mar 26	4.13%
Mar 26	4.07%
Mar 26	4.08%
Feb 26	4.19%
Feb 26	4.27%
Feb 26	4.16%
Feb 26	4.13%
Jan 26	4%
Jan 26	3.97%
Jan 26	4.14%
Jan 26	4.22%
Jan 26	4.19%
Dec 25	3.59%
Dec 25	3.6%
Dec 25	3.71%
Dec 25	3.79%
Nov 25	3.83%
Nov 25	3.96%
Nov 25	3.95%
Nov 25	3.97%
Oct 25	3.91%
Oct 25	3.83%
Oct 25	3.86%
Oct 25	3.85%
Oct 25	3.94%
Sep 25	5.41%
Sep 25	5.37%
Sep 25	5.34%
Sep 25	5.36%
Aug 25	5.34%
Aug 25	5.33%
Aug 25	5.37%
Aug 25	5.37%
Aug 25	5.5%
Jul 25	5.39%
Jul 25	5.35%
Jul 25	5.35%
Jul 25	5.34%
Jun 25	6.03%
Jun 25	6.09%
Jun 25	6.03%
Jun 25	6.01%
May 25	5.84%
May 25	5.86%
May 25	5.85%
May 25	6.12%
May 25	6.34%
Apr 25	6.19%
Apr 25	6.12%
Apr 25	6.31%
Apr 25	6.34%
Mar 25	7.15%
Mar 25	7.12%
Mar 25	7.1%
Mar 25	7.15%
Feb 25	7.19%
Feb 25	7.18%
Feb 25	7.12%
Feb 25	7%
Jan 25	7.06%
Jan 25	7.09%
Jan 25	7.15%
Jan 25	7.26%
Jan 25	7.22%
Dec 24	4.81%
Dec 24	4.83%
Dec 24	4.78%
Dec 24	4.72%
Nov 24	4.79%
Nov 24	4.75%
Nov 24	4.75%
Nov 24	4.85%
Nov 24	4.62%
Oct 24	4.58%

Price to Sales

MRT-UN.TO Price to Sales by year
Period	Price to Sales
Sep 26	1.96
Sep 26	1.95
Sep 26	1.95
Aug 26	1.96
Aug 26	1.95
Aug 26	2
Aug 26	1.95
Jul 26	1.9
Jul 26	1.95
Jul 26	1.93
Jul 26	1.96
Jul 26	1.97
Jun 26	1.93
Jun 26	1.86
Jun 26	1.88
Jun 26	1.84
May 26	1.83
May 26	1.79
May 26	1.81
May 26	1.8
May 26	1.8
Apr 26	1.84
Apr 26	1.82
Apr 26	1.83
Apr 26	1.82
Mar 26	1.77
Mar 26	1.73
Mar 26	1.76
Mar 26	1.75
Feb 26	1.7
Feb 26	1.67
Feb 26	1.71
Feb 26	1.73
Jan 26	1.78
Jan 26	1.8
Jan 26	1.72
Jan 26	1.69
Jan 26	1.7
Dec 25	1.65
Dec 25	1.65
Dec 25	1.6
Dec 25	1.57
Nov 25	1.55
Nov 25	1.5
Nov 25	1.5
Nov 25	1.5
Oct 25	1.52
Oct 25	1.55
Oct 25	1.54
Oct 25	1.54
Oct 25	1.51
Sep 25	1.44
Sep 25	1.45
Sep 25	1.46
Sep 25	1.45
Aug 25	1.46
Aug 25	1.46
Aug 25	1.45
Aug 25	1.45
Aug 25	1.42
Jul 25	1.45
Jul 25	1.46
Jul 25	1.46
Jul 25	1.46
Jun 25	1.43
Jun 25	1.41
Jun 25	1.43
Jun 25	1.43
May 25	1.48
May 25	1.47
May 25	1.47
May 25	1.41
May 25	1.36
Apr 25	1.39
Apr 25	1.41
Apr 25	1.36
Apr 25	1.36
Mar 25	1.38
Mar 25	1.38
Mar 25	1.39
Mar 25	1.38
Feb 25	1.37
Feb 25	1.38
Feb 25	1.38
Feb 25	1.41
Jan 25	1.4
Jan 25	1.39
Jan 25	1.38
Jan 25	1.36
Jan 25	1.37
Dec 24	1.37
Dec 24	1.37
Dec 24	1.38
Dec 24	1.4
Nov 24	1.38
Nov 24	1.39
Nov 24	1.39
Nov 24	1.36
Nov 24	1.43
Oct 24	1.44

EV/EBITDA

MRT-UN.TO EV/EBITDA by year
Period	EV/EBITDA
Sep 26	27.47
Sep 26	27.46
Sep 26	27.44
Aug 26	27.48
Aug 26	27.46
Aug 26	27.65
Aug 26	27.44
Jul 26	27.23
Jul 26	27.43
Jul 26	27.38
Jul 26	27.47
Jul 26	27.51
Jun 26	37.96
Jun 26	37.59
Jun 26	37.66
Jun 26	37.44
May 26	37.39
May 26	37.2
May 26	37.27
May 26	37.23
May 26	37.26
Apr 26	37.47
Apr 26	37.35
Apr 26	37.42
Apr 26	37.35
Mar 26	59.31
Mar 26	58.98
Mar 26	59.19
Mar 26	59.17
Feb 26	58.75
Feb 26	58.47
Feb 26	58.84
Feb 26	58.98
Jan 26	59.45
Jan 26	59.59
Jan 26	58.91
Jan 26	58.63
Jan 26	58.75
Dec 25	55.87
Dec 25	55.85
Dec 25	55.41
Dec 25	55.15
Nov 25	55.02
Nov 25	54.56
Nov 25	54.6
Nov 25	54.54
Oct 25	54.73
Oct 25	55.02
Oct 25	54.89
Oct 25	54.93
Oct 25	54.62
Sep 25	34.13
Sep 25	34.19
Sep 25	34.23
Sep 25	34.2
Aug 25	34.23
Aug 25	34.24
Aug 25	34.19
Aug 25	34.19
Aug 25	34
Jul 25	34.16
Jul 25	34.22
Jul 25	34.22
Jul 25	34.23
Jun 25	21.64
Jun 25	21.59
Jun 25	21.64
Jun 25	21.66
May 25	21.81
May 25	21.79
May 25	21.8
May 25	21.56
May 25	21.4
Apr 25	21.51
Apr 25	21.56
Apr 25	21.41
Apr 25	21.4
Mar 25	12.57
Mar 25	12.58
Mar 25	12.6
Mar 25	12.57
Feb 25	12.56
Feb 25	12.56
Feb 25	12.58
Feb 25	12.64
Jan 25	12.61
Jan 25	12.6
Jan 25	12.57
Jan 25	12.53
Jan 25	12.55
Dec 24	12.82
Dec 24	12.81
Dec 24	12.83
Dec 24	12.87
Nov 24	12.83
Nov 24	12.85
Nov 24	12.85
Nov 24	12.79
Nov 24	12.94
Oct 24	12.96

Price/Operating Cashflow

MRT-UN.TO Price/Operating Cashflow by year
Period	Price/Operating Cashflow
Sep 26	10.78
Sep 26	10.76
Sep 26	10.73
Aug 26	10.79
Aug 26	10.76
Aug 26	11.04
Aug 26	10.73
Jul 26	10.44
Jul 26	10.72
Jul 26	10.66
Jul 26	10.78
Jul 26	10.84
Jun 26	11.45
Jun 26	11.04
Jun 26	11.12
Jun 26	10.88
May 26	10.83
May 26	10.62
May 26	10.7
May 26	10.65
May 26	10.68
Apr 26	10.91
Apr 26	10.78
Apr 26	10.86
Apr 26	10.78
Mar 26	9.42
Mar 26	9.22
Mar 26	9.34
Mar 26	9.33
Feb 26	9.07
Feb 26	8.9
Feb 26	9.13
Feb 26	9.22
Jan 26	9.5
Jan 26	9.59
Jan 26	9.17
Jan 26	9
Jan 26	9.07
Dec 25	9.55
Dec 25	9.54
Dec 25	9.24
Dec 25	9.06
Nov 25	8.97
Nov 25	8.65
Nov 25	8.68
Nov 25	8.64
Oct 25	8.77
Oct 25	8.97
Oct 25	8.88
Oct 25	8.91
Oct 25	8.7
Sep 25	7.32
Sep 25	7.37
Sep 25	7.41
Sep 25	7.38
Aug 25	7.41
Aug 25	7.42
Aug 25	7.37
Aug 25	7.37
Aug 25	7.19
Jul 25	7.34
Jul 25	7.39
Jul 25	7.39
Jul 25	7.41
Jun 25	6.8
Jun 25	6.73
Jun 25	6.8
Jun 25	6.82
May 25	7.02
May 25	7
May 25	7.01
May 25	6.69
May 25	6.47
Apr 25	6.62
Apr 25	6.69
Apr 25	6.49
Apr 25	6.47
Mar 25	6.45
Mar 25	6.48
Mar 25	6.5
Mar 25	6.45
Feb 25	6.42
Feb 25	6.43
Feb 25	6.48
Feb 25	6.59
Jan 25	6.54
Jan 25	6.51
Jan 25	6.45
Jan 25	6.36
Jan 25	6.4
Dec 24	6.36
Dec 24	6.34
Dec 24	6.4
Dec 24	6.49
Nov 24	6.39
Nov 24	6.45
Nov 24	6.45
Nov 24	6.31
Nov 24	6.63
Oct 24	6.69

Price to Book

MRT-UN.TO Price to Book by year
Period	Price to Book
Sep 26	0.54
Sep 26	0.54
Sep 26	0.54
Aug 26	0.54
Aug 26	0.54
Aug 26	0.55
Aug 26	0.54
Jul 26	0.52
Jul 26	0.54
Jul 26	0.53
Jul 26	0.54
Jul 26	0.54
Jun 26	0.53
Jun 26	0.52
Jun 26	0.52
Jun 26	0.51
May 26	0.51
May 26	0.5
May 26	0.5
May 26	0.5
May 26	0.5
Apr 26	0.51
Apr 26	0.5
Apr 26	0.51
Apr 26	0.5
Mar 26	0.49
Mar 26	0.48
Mar 26	0.49
Mar 26	0.49
Feb 26	0.48
Feb 26	0.47
Feb 26	0.48
Feb 26	0.48
Jan 26	0.5
Jan 26	0.5
Jan 26	0.48
Jan 26	0.47
Jan 26	0.48
Dec 25	0.48
Dec 25	0.47
Dec 25	0.46
Dec 25	0.45
Nov 25	0.45
Nov 25	0.43
Nov 25	0.43
Nov 25	0.43
Oct 25	0.44
Oct 25	0.45
Oct 25	0.44
Oct 25	0.44
Oct 25	0.43
Sep 25	0.42
Sep 25	0.43
Sep 25	0.43
Sep 25	0.43
Aug 25	0.43
Aug 25	0.43
Aug 25	0.43
Aug 25	0.43
Aug 25	0.42
Jul 25	0.42
Jul 25	0.43
Jul 25	0.43
Jul 25	0.43
Jun 25	0.42
Jun 25	0.41
Jun 25	0.42
Jun 25	0.42
May 25	0.43
May 25	0.43
May 25	0.43
May 25	0.41
May 25	0.4
Apr 25	0.41
Apr 25	0.41
Apr 25	0.4
Apr 25	0.4
Mar 25	0.39
Mar 25	0.39
Mar 25	0.39
Mar 25	0.39
Feb 25	0.38
Feb 25	0.38
Feb 25	0.39
Feb 25	0.39
Jan 25	0.39
Jan 25	0.39
Jan 25	0.39
Jan 25	0.38
Jan 25	0.38
Dec 24	0.39
Dec 24	0.38
Dec 24	0.39
Dec 24	0.39
Nov 24	0.39
Nov 24	0.39
Nov 24	0.39
Nov 24	0.38
Nov 24	0.4
Oct 24	0.4

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Morguard Real Estate Investment Trust

Video analysis: MRT-UN.TO

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