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Morguard (OTC) ( (TSE:MRC) ) has issued an announcement.
Morguard Corporation announced a positive financial performance for 2024, highlighted by strong liquidity and significant debt reduction following the sale of a hotel portfolio. The company reported a notable increase in net income due to these sales and managed to refinance mortgages at favorable rates. However, revenue from hotel properties declined sharply due to the disposition, impacting overall revenue growth. Morguard also launched a new rental community project in Mississauga, indicating continued investment in residential property development.
More about Morguard (OTC)
Morguard Corporation operates within the real estate industry, focusing on investment, management, and development of commercial and residential properties across North America. Their portfolio includes office, industrial, retail, and multi-suite residential properties, positioning them as a significant player in the property management sector.
YTD Price Performance: -2.54%
Average Trading Volume: 510
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $828.2M
See more data about MRC stock on TipRanks’ Stock Analysis page.
