Brief: Morguard Q2 Normalized Funds From Operations CAD 56 Million

Morguard

06/08/2025 21:16

Overview

Morguard Q2 2025 revenue rises 0.7% yr/yr, driven by higher average monthly rent

Normalized FFO for Q2 2025 up 9.3%, reflecting improved operational performance

Net income for Q2 2025 declines due to higher tax provisions

Result Drivers

HIGHER RENT - Revenue from real estate properties increased due to higher average monthly rent despite increased vacancies

LEASE EXPIRY - Obsidian Energy's lease expiry at Penn West Plaza contributed to increased vacancy costs

TAX IMPACT - Net income decreased due to higher tax provisions, partially offset by reduced non-cash net fair value loss

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Income
C$54.90 mln
Q2 Normalized Funds from Operations
C$56 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy."

Wall Street's median 12-month price target for Morguard Corp is C$140.00, about 15.7% above its August 5 closing price of C$118.00

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nCNWp1gZwa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)