Definitive Analysis
Definitive Analysis

Financial Statements

Fundamentals

Valuations

Miscellaneous

Analysis Mode

Search

Morguard North American Residential Real Estate Investment Trust (MRG-UN.TO)

Company Dividend Discount ModelIndustry: REIT - ResidentialSector: Real Estate

Valuation Snapshot

Stable Growth$57.00 - $167.31$89.82
Multi-Stage$52.06 - $57.05$54.51
Blended Fair Value$72.17
Current Price$18.26
Upside295.21%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS2.58%4.44%0.650.650.640.640.640.570.530.510.420.42
YoY Growth---0.52%1.08%0.38%-0.36%12.96%8.17%4.22%20.72%0.05%-0.18%
Dividend Yield--3.73%4.13%3.70%3.27%4.13%4.25%2.87%3.69%2.83%3.52%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)95.05
(-) Cash Dividends Paid (M)26.65
(=) Cash Retained (M)68.41
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)19.0111.887.13
Cash Retained (M)68.4168.4168.41
(-) Cash Required (M)-19.01-11.88-7.13
(=) Excess Retained (M)49.4056.5261.28
(/) Shares Outstanding (M)41.4341.4341.43
(=) Excess Retained per Share1.191.361.48
LTM Dividend per Share0.640.640.64
(+) Excess Retained per Share1.191.361.48
(=) Adjusted Dividend1.842.012.12
WACC / Discount Rate7.12%7.12%7.12%
Growth Rate3.77%4.77%5.77%
Fair Value$57.00$89.82$167.31
Upside / Downside212.15%391.91%816.26%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)95.0599.59104.34109.32114.54120.01123.61
Payout Ratio28.03%40.43%52.82%65.21%77.61%90.00%92.50%
Projected Dividends (M)26.6540.2655.1171.2988.89108.01114.34

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.12%7.12%7.12%
Growth Rate3.77%4.77%5.77%
Year 1 PV (M)37.2337.5937.94
Year 2 PV (M)47.1248.0348.96
Year 3 PV (M)56.3658.0159.69
Year 4 PV (M)64.9867.5270.14
Year 5 PV (M)73.0176.6080.32
PV of Terminal Value (M)1,878.161,970.422,066.26
Equity Value (M)2,156.862,258.162,363.30
Shares Outstanding (M)41.4341.4341.43
Fair Value$52.06$54.51$57.05
Upside / Downside185.12%198.51%212.41%

High-Yield Dividend Screener

« Prev Page 2 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
GHYPGIM Global High Yield Fund, Inc15.29%$1.8962.38%
BGRBlackRock Energy and Resources Trust15.26%$2.1298.26%
BOEBlackRock Enhanced Global Dividend Trust15.09%$1.7867.28%
FENFirst Trust Energy Income and Growth Fund15.00%$2.4049.79%
SOJESouthern Company (The) Series 214.95%$2.6967.01%
PSFCohen & Steers Select Preferred and Income Fund, Inc.14.84%$3.0256.28%
EVGEaton Vance Short Duration Diversified Income Fund14.82%$1.6271.62%
LDPCohen & Steers Limited Duration Preferred and Income Fund, Inc.14.73%$3.1554.69%
DNPDNP Select Income Fund Inc.14.64%$1.4553.01%
JRSNuveen Real Estate Income Fund14.56%$1.1189.79%
DPGDuff & Phelps Utility and Infrastructure Fund Inc.14.47%$1.8654.60%
BSTBlackRock Science and Technology Trust14.42%$5.8646.91%
MPAIXMorgan Stanley Insti Fd Advantage Portfolio Cl I14.33%$4.0043.20%
JCAPJefferson Capital, Inc. Common Stock14.11%$3.1245.65%
PHTPioneer High Income Fund, Inc.13.99%$1.1961.96%
RZC7.125% Fixed-Rate Reset Subordinated Debentures due 205213.93%$3.5527.34%
RNPCohen & Steers REIT and Preferred Income Fund, Inc.13.88%$2.7761.92%
DOMHDominari Holdings Inc.13.87%$0.7010.86%
STT-PDState Street Corporation13.86%$3.4633.48%
FCTFirst Trust Senior Floating Rate Income Fund II13.80%$1.3867.42%
VIRTVirtu Financial, Inc.13.57%$4.4389.50%
DHFBNY Mellon High Yield Strategies Fund13.55%$0.3461.16%
JHIJohn Hancock Investors Trust13.15%$1.7974.97%
AIOVirtus Artificial Intelligence & Technology Opportunities Fund12.91%$2.8238.01%
UTFCohen & Steers Infrastructure Fund, Inc12.84%$3.1453.56%
DFPFlaherty & Crumrine Dynamic Preferred and Income Fund Inc.12.81%$2.6848.05%
WEAWestern Asset Premier Bond Fund12.81%$1.4380.16%
TPZTortoise Essential Energy Fund12.76%$2.6467.76%
FTFranklin Universal Trust12.72%$1.0256.42%
CSQCalamos Strategic Total Return Fund12.70%$2.4351.10%
HYBThe New America High Income Fund Inc.12.68%$1.0463.42%
NBBNuveen Taxable Municipal Income Fund12.66%$2.0085.04%
RWAYRunway Growth Finance Corp.12.66%$1.1475.51%
ELVTElevate Credit, Inc.12.61%$0.2475.91%
NDPTortoise Energy Independence Fund, Inc.12.60%$5.0986.32%
BCEICivitas Resources, Inc.12.58%$7.0698.41%
GENVRGen Digital Inc. Contingent Value Rights12.54%$0.5054.91%
SOJCThe Southern Company JR 2017B NT 7712.31%$2.6967.01%
BTOJohn Hancock Financial Opportunities Fund12.25%$4.3229.72%
FEIFirst Trust MLP and Energy Income Fund12.21%$1.2058.56%
PCNPIMCO Corporate & Income Strategy Fund12.19%$1.5568.95%
HTDJohn Hancock Tax-Advantaged Dividend Income Fund12.17%$2.9051.08%
NIEVirtus Equity & Convertible Income Fund12.17%$3.0445.26%
PFDFlaherty & Crumrine Preferred Income Fund Inc.11.99%$1.4348.51%
TYGTortoise Energy Infrastructure Corporation11.98%$4.9643.95%
FPLFirst Trust New Opportunities MLP & Energy Fund11.82%$0.9254.20%
BTZBlackRock Credit Allocation Income Trust11.69%$1.2692.75%
BHBFXMadison Dividend Income Fd Cl Y11.61%$2.8540.22%
CGABLThe Carlyle Group Inc. 4.625% Subordinated Notes due 206111.57%$2.0197.92%
DBLDoubleLine Opportunistic Credit Fund11.57%$1.7652.03%