MRG-UN Fair Value & Analysis
Real Estate · CA · Market cap C$1.2B
Fair value as of: Jul 12, 2026
From 25 valuation models · updated 9 days ago
Share price −0.6% over the past month.
Price vs Fair Value (12 months)
12‑month range C$16.12 – C$18.60 · fair‑value band C$31.93 – C$47.54 · the C$16.80 price screens below the C$34.94 fair value. As of Jul 12, 2026.
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MRG-UN (MRG-UN) currently trades at C$16.80, while our model-based Fair Value estimate is C$34.94, implying the stock looks roughly 108.0% undervalued today. We read business quality at 46/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, MRG-UN generated revenue of C$356M at a net margin of 28.7%. Revenue declined 4.7% year over year. It earns a return on equity of 5.2%. Net debt stands at C$1.7B. Fundamentals as of Jul 12, 2026
Our scenario range runs from C$31.93 (bear case) to C$47.54 (bull case); at C$16.80, the current price sits below that range. The share trades about 10% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -28% fair-value upside, at 108%, MRG-UN screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 12, 2026. TTM = trailing twelve months.
About the company
Morguard North American Residential Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust which owns, through a limited partnership, interests in Canadian residential apartment communities, located in Alberta and Ontario, and U.S. residential apartment communities located in Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia and Maryland. Morguard North American Residential Real Estate Investment Trust was incorporated in 2012 in Ontario, Canada.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
MRG-UN reported revenue of C$355M in FY2025 versus C$246M in FY2021, a compound +9.6%/yr. Reported net income was C$103M in FY2025, compounding −19.2%/yr from FY2021.
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Similar stocks
10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| E1QR34 E1QR34 | R$164.90 | R$84.29 | -49% |
| AvalonBay Communities, Inc AVB | $177.32 | $130.65 | -26% |
| EQR EQR | $64.09 | $37.80 | -41% |
| Essex Property Trust, Inc E1SS34 | R$130.99 | R$73.68 | -44% |
| Invitation Homes INVH | $29.05 | $23.59 | -19% |
| Mid-America Apartment Communities, Inc MAA | $132.13 | $95.43 | -28% |
| Sun Communities, Inc SUI | $119.50 | $121.64 | +2% |
| UDR, Inc UDR | $38.39 | $19.76 | -49% |
| American Homes 4 Rent (AMH or the General Partner) AMH | $31.83 | $31.25 | -2% |
| Equity LifeStyle Properties, Inc ELS | $62.19 | $37.72 | -39% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.