Morguard Corp

Latest Results (18.10.2025):

Morguard Corporation reported its financial results for the third quarter of 2024, demonstrating a strengthened liquidity position and a notable increase in net income. Despite challenges in the hotel sector due to strategic asset dispositions, the company has successfully enhanced its dividend payout and maintained robust performance across its diversified real estate portfolio.

Dividend Increase

Morguard Corp announced an increase to its annual cash dividend, raising it from $0.60 to $0.80 per share. This enhancement is effective for the fourth quarter dividend, payable in December 2024, reflecting the company's commitment to delivering value to its shareholders.

Revenue Performance

Total revenue from real estate properties saw a modest increase of 1.1% to $253.4 million for the three months ended September 30, 2024. However, revenue from hotel properties declined by 82.3% to $8.5 million, primarily due to the sale of 14 hotels in the Hotel Portfolio Disposition.

Net Income Growth

Net income for the third quarter rose to $7.9 million from a net loss of $9.5 million in the same period last year. This improvement was driven by a decrease in non-cash fair value losses and an increase in fair value gains on real estate properties, partially offset by other financial adjustments.

Operational Strength

Morguard ended the quarter with $585.0 million in cash and available credit facilities and a $1.2 billion pool of unencumbered properties and investments. Additionally, the company initiated the construction of a new 431-suite rental community in Port Credit, projected for completion in 2027, further expanding its residential portfolio.