Company Valuation: Morguard North American Residential Real Estate Investment Trust

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 691.8 633.5 557.6 623.8 606.7 563.5 - -
Change - -8.42% -11.98% 11.86% -2.75% -7.11% - -
Enterprise Value (EV) 691.8 633.5 557.6 623.8 606.7 563.5 563.5 563.5
Change - -8.42% -11.98% 11.86% -2.75% -7.11% 0% 0%
P/E - 4.09x 4.9x 9.55x 8.55x 9.37x 12.1x 11x
PBR - - - - - - - -
PEG - - -0.2x -0.2x 0.7x -0.6x -0.5x 1.13x
Capitalization / Revenue 2.82x 2.27x 1.68x 1.81x 1.71x 1.59x 1.48x 1.44x
EV / Revenue 0x 0x 0x 0x 0x 1.59x 1.48x 1.44x
EV / EBITDA 0x 0x 0x 0x 0x 3.43x 3.11x 3x
EV / EBIT - - - - - - - -
EV / FCF 0x 0x -0x 0x 0x -6.13x 43.3x 33.1x
FCF Yield 4.87% 5.42% -21.5% 6.11% 2.71% -16.3% 2.31% 3.02%
Dividend per Share 2 0.6996 0.703 0.7233 0.7434 0.765 0.79 0.805 0.825
Rate of return 3.95% 4.34% 4.9% 4.33% 4.4% 4.9% 4.99% 5.12%
EPS 2 - 3.957 3.014 1.796 2.032 1.72 1.33 1.46
Distribution rate - 17.8% 24% 41.4% 37.6% 45.9% 60.5% 56.5%
Net sales 1 245.6 278.5 331.6 344.2 354.6 354.9 381.9 392.5
EBITDA 1 115.2 135.4 158.6 159 165.3 164.2 181 188
EBIT - - - - - - - -
Net income - - - - - - - -
Net Debt - - - - - - - -
Reference price 2 17.71 16.20 14.77 17.15 17.37 16.12 16.12 16.12
Nbr of stocks (in thousands) 39,060 39,107 37,755 36,374 34,926 34,957 - -
Announcement Date 2/15/22 2/14/23 2/13/24 2/11/25 2/10/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
9.37x - - 4.9% 409M
50.59x12.86x19.66x3.59% 18.57B
31.52x8.86x16.94x3.99% 17.78B
35.81x9.41x16.7x4.68% 15.23B
-46.52x8.95x19.75x3.68% 14.82B
31.82x10.14x20.75x3.3% 12.7B
36.01x9.15x17.16x3.83% 12.36B
37.59x10.56x17.19x4.6% 12.13B
91.68x9.49x17.02x3.94% 11.03B
Average 30.87x 9.93x 18.15x 4.06% 12.78B
Weighted average by Cap. 31.96x 10.01x 18.19x 3.95%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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