Nitor Capital
Long/short equity, value, special situations, deep value

Morguard Corp: A Diverse High Quality Real Estate Portfolio That Sells At A 50% Discount

(Editors' Note: Morguard Corp. also trades on the Toronto exchange, symbol MRC.TO, with average daily volume of C$390,000.)

Morguard Corp. (OTC:MRCBF)

Current Price Per Share: $129.00

Market Value of Equity: $1.61 billion (CAD)

Enterprise Value: $3.7 billion

Book Value: $2.35 billion

Morguard Corp. is a Canadian based real estate corporation (not a REIT) that offers a rarity in today's market; A high quality company selling at an extreme discount to Net Asset Value (NAV).

Morguard has valuable real estate assets (60% in Canada, 40% in US) and is not in any sort of financial distress. In addition to its owned real estate, Morguard also has a significant interest in two REITs (Morguard REIT (OTC:MGRUF) & Morguard...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details