Topic: How To Invest

Hi Pat: Could I have your opinion about Morguard Corporation? Thanks.

Article Excerpt

Morguard Corporation, $42, symbol MRC on Toronto (Shares outstanding: 13.3 million; Market cap: $558.5 million), is a real-estate company that mainly owns and develops properties. It also manages commercial and apartment buildings. The company owns a diversified portfolio of 100 office, industrial, retail and multi-residential properties in major centres across Canada and in Alabama, Florida, Louisiana and New Jersey. It also owns a 50% stake in one hotel property, as well as interests in 91 acres of land that could be developed. In all, Morguard’s portfolio includes 6.4 million square feet of commercial space and 10,297 multi-unit residential suites. The company also provides real-estate management services to Canadian institutional investors and private individuals. Its real-estate management services include acquisitions, development, dispositions, leasing, performance measurement, and asset and property management. On behalf of clients, Morguard manages a commercial portfolio of 33.7 million square feet of retail, office and industrial properties. Morguard also owns 45.5% of Morguard REIT (symbol MRT.UN on Toronto). Morguard REIT…