Opinions Barry Schwartz
Morguard CorporationMRC.TOPAST TOP PICKMar 28, 2016
Barry SchwartzStock price when the opinion was issued
As of Jun 22, 2026. Market Open.
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Premium content
Premium contentWe reiterate MRC, a leading North American real estate management company, as a TOP PICK. As the BoC holds interest rates from further increases, and rental rates are up over 10% across the country, we expect the company to continue reporting quarterly increases in cash reserves to allow for further retirement of debt and to buy back shares. It trades at 4x forward earnings. We continue to recommend a stop loss at $95, looking to achieve $125 -- upside over 18%. Yield 0.%%.
(Analysts’ price target is $145.00)Premium contentThe company owns a diversified portfolio of residential and commercial property portfolio worth $19 billion. It is benefitting from growth in immigration into Canada and sees the commercial sector stabilizing going forward. It trades below book value and at 10x earnings. We recommend a stop-loss at $95, looking to achieve $150 - upside potential of 40%. Yield 0.5%
David Baskin
(A Top Pick Feb 20/15. Down 4.16%.) A real estate play, and management owns the majority of the shares. Doesn’t trade very much and they continue to buy back a lot of stock. When you do the math and add up all the value in the public entities it owns, plus the real estate, he comes up with a valuation of at least $200 a share. They are re-leasing a lot of their Target stores, and are using it free cash flow to keep buying and developing more assets.