MORGUARD REAL ESTATE-TR UTS (MRT-UN.CA) Stock Fundamental Analysis
TSX:MRT-UN - Toronto Stock Exchange - CA6179141065 - REIT - Currency: CAD
MRT-UN gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 38 industry peers in the Diversified REITs industry. Both the profitability and financial health of MRT-UN have multiple concerns. MRT-UN has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
MRT-UN had negative earnings in the past year.
MRT-UN had a positive operating cash flow in the past year.
In the past 5 years MRT-UN reported 4 times negative net income.
In the past 5 years MRT-UN always reported a positive cash flow from operatings.
1.2 Ratios
MRT-UN's Return On Assets of -1.55% is in line compared to the rest of the industry. MRT-UN outperforms 44.74% of its industry peers.
MRT-UN has a Return On Equity (-3.88%) which is in line with its industry peers.
MRT-UN's Return On Invested Capital of 4.48% is fine compared to the rest of the industry. MRT-UN outperforms 76.32% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MRT-UN is in line with the industry average of 5.66%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.55% | ||
| ROE | -3.88% | ||
| ROIC | 4.48% |
ROA(3y)-3.2%
ROA(5y)-4.67%
ROE(3y)-7.53%
ROE(5y)-10.61%
ROIC(3y)4.53%
ROIC(5y)4.4%
1.3 Margins
MRT-UN has a Operating Margin of 46.85%. This is comparable to the rest of the industry: MRT-UN outperforms 42.11% of its industry peers.
In the last couple of years the Operating Margin of MRT-UN has declined.
MRT-UN has a Gross Margin of 48.31%. This is in the lower half of the industry: MRT-UN underperforms 76.32% of its industry peers.
In the last couple of years the Gross Margin of MRT-UN has declined.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 46.85% | ||
| PM (TTM) | N/A | ||
| GM | 48.31% |
OM growth 3Y-1.47%
OM growth 5Y-1.92%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.99%
GM growth 5Y-2.03%
2. Health
2.1 Basic Checks
MRT-UN has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, MRT-UN has less shares outstanding
Compared to 5 years ago, MRT-UN has more shares outstanding
MRT-UN has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.42, we must say that MRT-UN is in the distress zone and has some risk of bankruptcy.
MRT-UN's Altman-Z score of 0.42 is in line compared to the rest of the industry. MRT-UN outperforms 42.11% of its industry peers.
MRT-UN has a debt to FCF ratio of 24.67. This is a negative value and a sign of low solvency as MRT-UN would need 24.67 years to pay back of all of its debts.
MRT-UN has a Debt to FCF ratio of 24.67. This is in the lower half of the industry: MRT-UN underperforms 60.53% of its industry peers.
MRT-UN has a Debt/Equity ratio of 1.20. This is a high value indicating a heavy dependency on external financing.
MRT-UN has a Debt to Equity ratio (1.20) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.2 | ||
| Debt/FCF | 24.67 | ||
| Altman-Z | 0.42 |
ROIC/WACC0.72
WACC6.25%
2.3 Liquidity
MRT-UN has a Current Ratio of 0.07. This is a bad value and indicates that MRT-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.07, MRT-UN is not doing good in the industry: 78.95% of the companies in the same industry are doing better.
MRT-UN has a Quick Ratio of 0.07. This is a bad value and indicates that MRT-UN is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.07, MRT-UN is doing worse than 78.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.07 | ||
| Quick Ratio | 0.07 |
3. Growth
3.1 Past
MRT-UN shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 63.39%, which is quite impressive.
The Revenue has been growing slightly by 0.18% in the past year.
The Revenue has been decreasing by -1.04% on average over the past years.
EPS 1Y (TTM)63.39%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%68.35%
Revenue 1Y (TTM)0.18%
Revenue growth 3Y2.39%
Revenue growth 5Y-1.04%
Sales Q2Q%-6.29%
3.2 Future
Based on estimates for the next years, MRT-UN will show a very strong growth in Earnings Per Share. The EPS will grow by 219.37% on average per year.
The Revenue is expected to decrease by -1.61% on average over the next years.
EPS Next Y820%
EPS Next 2Y219.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-7.98%
Revenue Next 2Y-1.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings Ratio is negative for MRT-UN. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 6.97, which indicates a rather cheap valuation of MRT-UN.
Based on the Price/Forward Earnings ratio, MRT-UN is valued cheaper than 97.37% of the companies in the same industry.
MRT-UN is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.90, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 6.97 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MRT-UN indicates a rather cheap valuation: MRT-UN is cheaper than 89.47% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, MRT-UN is valued a bit cheaper than 71.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.44 | ||
| EV/EBITDA | 12.4 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as MRT-UN's earnings are expected to grow with 219.37% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y219.37%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.49%, MRT-UN is a good candidate for dividend investing.
With a Dividend Yield of 4.49, MRT-UN pays less dividend than the industry average, which is at 7.95. 84.21% of the companies listed in the same industry pay a better dividend than MRT-UN!
Compared to an average S&P500 Dividend Yield of 2.42, MRT-UN pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.49% |
5.2 History
The dividend of MRT-UN decreases each year by -24.29%.
MRT-UN has paid a dividend for at least 10 years, which is a reliable track record.
MRT-UN has decreased its dividend in the last 3 years.
Dividend Growth(5Y)-24.29%
Div Incr Years1
Div Non Decr Years2
5.3 Sustainability
The earnings of MRT-UN are negative and hence is the payout ratio. MRT-UN will probably not be able to sustain this dividend level.
DP-41.54%
EPS Next 2Y219.37%
EPS Next 3YN/A
TSX:MRT-UN (7/3/2025, 7:00:00 PM)
5.77
+0.01 (+0.17%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners0.55%
Inst Owner ChangeN/A
Ins Owners16.52%
Ins Owner ChangeN/A
Market Cap373.78M
Analysts50
Price Target5.44 (-5.72%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.49% |
Yearly Dividend0.24
Dividend Growth(5Y)-24.29%
DP-41.54%
Div Incr Years1
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-8.57%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | N/A | ||
| Fwd PE | 6.97 | ||
| P/S | 1.47 | ||
| P/FCF | 7.44 | ||
| P/OCF | 7.44 | ||
| P/B | 0.43 | ||
| P/tB | 0.43 | ||
| EV/EBITDA | 12.4 |
EPS(TTM)-0.6
EYN/A
EPS(NY)0.83
Fwd EY14.35%
FCF(TTM)0.78
FCFY13.45%
OCF(TTM)0.78
OCFY13.45%
SpS3.94
BVpS13.42
TBVpS13.42
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -1.55% | ||
| ROE | -3.88% | ||
| ROCE | 6.64% | ||
| ROIC | 4.48% | ||
| ROICexc | 4.5% | ||
| ROICexgc | 4.5% | ||
| OM | 46.85% | ||
| PM (TTM) | N/A | ||
| GM | 48.31% | ||
| FCFM | 19.7% |
ROA(3y)-3.2%
ROA(5y)-4.67%
ROE(3y)-7.53%
ROE(5y)-10.61%
ROIC(3y)4.53%
ROIC(5y)4.4%
ROICexc(3y)4.55%
ROICexc(5y)4.42%
ROICexgc(3y)4.55%
ROICexgc(5y)4.42%
ROCE(3y)6.57%
ROCE(5y)6.31%
ROICexcg growth 3Y6.46%
ROICexcg growth 5Y4.22%
ROICexc growth 3Y6.46%
ROICexc growth 5Y4.22%
OM growth 3Y-1.47%
OM growth 5Y-1.92%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-0.99%
GM growth 5Y-2.03%
F-Score4
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.2 | ||
| Debt/FCF | 24.67 | ||
| Debt/EBITDA | 8.7 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.89 | ||
| Cash Conversion | 42.01% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.07 | ||
| Quick Ratio | 0.07 | ||
| Altman-Z | 0.42 |
F-Score4
WACC6.25%
ROIC/WACC0.72
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)63.39%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%68.35%
EPS Next Y820%
EPS Next 2Y219.37%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)0.18%
Revenue growth 3Y2.39%
Revenue growth 5Y-1.04%
Sales Q2Q%-6.29%
Revenue Next Year-7.98%
Revenue Next 2Y-1.61%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-1.24%
EBIT growth 3Y0.89%
EBIT growth 5Y-2.94%
EBIT Next Year-11.68%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-34.07%
FCF growth 3Y-12.1%
FCF growth 5Y-9.44%
OCF growth 1Y-34.07%
OCF growth 3Y-12.1%
OCF growth 5Y-9.44%