Morguard REIT reported third-quarter EPS of C$0.176. Supplemental results show that funds from operations (FFO) fell from a year earlier.
Morguard Real Estate Investment Trust (TSX: MRT.UN) released results after the market closed on October 28 for the quarter ended September 30, 2026. Calendar data lists EPS of C$0.176 but no estimate, so the available figures don’t show whether earnings beat or missed expectations. Supplemental coverage reports revenue of C$60.4 million, net operating income of C$27.3 million and FFO of C$11.2 million, down from C$15.0 million a year earlier. For Canadian REIT investors, the FFO decline is worth weighing alongside the trust’s monthly distribution.
Recent earnings trend
Morguard Real Estate Investment Trust
MRT-UN.TO
MRT-UN.TO
Morguard Real Estate Investment Trust
WealthAwesomeMarket cap
$475.68M
P/E
35.1x
Div. yield
3.41%
Div. / share
$0.24
52W high
$7.29
52W low
$5.53
1W change
+1.30%
Beta
0.02
Analyst Price Targets
Based on analyst covering MRT-UN · as of Sep 17, 2026
Wall Street analysts forecast MRT-UN stock price to fall 4.8% over the next 12 months.
Consensus
NeutralBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$6.67
-4.8% Upside
Current Price
C$7.00
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on MRT-UN's historical volatility
30-Day Vol
11.5%
Annualized
90-Day Vol
19.4%
Annualized
Trend (90d)
-0.0%
Annualized drift
90d Mean
C$7.00
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$7.00 | C$6.73 – C$7.28 |
| 60 trading days | C$7.00 | C$6.62 – C$7.40 |
| 90 trading days | C$7.00 | C$6.54 – C$7.50 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-28 | 0.1760 | — | — |
| 2026-06-30 | 2026-07-29 | 0.0297 | — | — |
| 2026-03-31 | 2026-04-29 | 0.0907 | — | — |
| 2025-12-31 | 2026-02-11 | -0.1191 | — | — |
| 2025-09-30 | 2025-10-29 | 0.0713 | — | — |
| 2025-06-30 | 2025-07-30 | -0.0262 | — | — |
Investor takeaway: The EPS figure has no estimate for comparison, while supplemental results show lower year-over-year FFO. Investors assessing MRT-UN.TO may want to focus on operating performance and distribution sustainability rather than treating EPS alone as a verdict. The trust declared a monthly distribution of C$0.02 per unit in October. The supplied snapshot lists a 3.41% yield, which changes with the unit price.
C$11.2 million in quarterly FFO
Supplemental coverage puts third-quarter FFO at C$11.2 million, compared with C$15.0 million in the same quarter last year. The supplied calendar lists EPS of C$0.176 but no estimate, so there’s no basis for calculating an earnings surprise.
Bull case
The supplemental figures show quarterly net operating income of C$27.3 million on revenue of C$60.4 million, and the trust continues to declare monthly distributions. The available information doesn’t include property-level details or explain the FFO decline, so investors will need the full results to assess the broader operating picture.
Bear case
Quarterly FFO fell to C$11.2 million from C$15.0 million a year earlier. Income-focused investors will want to understand the decline. The supplied information doesn’t include debt, occupancy, leasing or distribution coverage details that could help explain the pressure on cash generation.
Analysis
Morguard REIT released its results after the market closed on October 28, 2026, for the quarter ended September 30. Calendar data lists EPS of C$0.176, but the estimate field is blank. The available figures therefore don’t support a beat-or-miss comparison. Supplemental coverage reports revenue of C$60.4 million and net operating income of C$27.3 million. It also puts FFO at C$11.2 million, down from C$15.0 million in the same quarter last year. FFO is a useful measure for REIT investors, but the supplied information doesn’t explain the decline or provide property-level operating details. The recent-earnings trend table and chart offer historical context, but they don’t replace the missing estimate for this quarter. See the MRT.UN stock page for company and market information.
Analysis
According to the supplied supplemental headline, Morguard REIT declared a monthly distribution of C$0.02 per unit in October. The fundamentals snapshot lists a 3.41% yield, but yield changes with the unit price and doesn’t guarantee future distributions. The snapshot also reports a 5.80% profit margin and a P/E of 35.1. These figures provide context, but they don’t show whether the distribution is covered. The latest supplied close is C$7.00. The 50-day moving average is C$7.05, and the 200-day average is C$6.78. The 52-week range is C$5.53 to C$7.29. These are reference points, not explanations of the quarter’s operating results.
Analysis
The supplied analyst data shows an average target of C$6.67, compared with the last close of C$7.00. That implies 4.8% downside to the average target. The consensus label is Neutral, based on the target-price comparison. A formal rating isn’t available for this Canadian listing. Treat the target as an estimate, not a promise. See the analyst ratings section for details.
Analysis
Wealth Awesome’s statistical 90-day model gives a mean forecast of C$7.00. Its 68% range is C$6.54–C$7.50, and its 95% range is C$6.10–C$8.03. This is a statistical model, not financial advice or a guarantee of returns. See the price prediction section for details.
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