Morguard Real Estate Investment Trust (MRT-UN) - Net Assets

Latest as of December 2025: CA$864.72 Million CAD ≈ $625.53 Million USD

Based on the latest financial reports, Morguard Real Estate Investment Trust (MRT-UN) has net assets worth CA$864.72 Million CAD (≈ $625.53 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$2.16 Billion ≈ $1.56 Billion USD) and total liabilities (CA$1.30 Billion ≈ $939.15 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Read total liabilities of Morguard Real Estate Investment Trust for a breakdown of total debt and financial obligations.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$864.72 Million
% of Total Assets	39.98%
Annual Growth Rate	4.66%
5-Year Change	-24.94%
10-Year Change	-44.4%
Growth Volatility	32.35

Morguard Real Estate Investment Trust - Net Assets Trend (1998–2025)

This chart illustrates how Morguard Real Estate Investment Trust's net assets have evolved over time, based on quarterly financial data. Also explore Morguard Real Estate Investment Trust balance sheet assets for the complete picture of this company's asset base.

Annual Net Assets for Morguard Real Estate Investment Trust (1998–2025)

The table below shows the annual net assets of Morguard Real Estate Investment Trust from 1998 to 2025. For live valuation and market cap data, see Morguard Real Estate Investment Trust stock valuation.

Year	Net Assets	Change
2025-12-31	CA$864.72 Million ≈ $625.53 Million	-2.21%
2024-12-31	CA$884.23 Million ≈ $639.64 Million	-8.01%
2023-12-31	CA$961.18 Million ≈ $695.31 Million	-8.53%
2022-12-31	CA$1.05 Billion ≈ $760.15 Million	-8.78%
2021-12-31	CA$1.15 Billion ≈ $833.33 Million	-0.49%
2020-12-31	CA$1.16 Billion ≈ $837.43 Million	-24.70%
2019-12-31	CA$1.54 Billion ≈ $1.11 Billion	-2.72%
2018-12-31	CA$1.58 Billion ≈ $1.14 Billion	+0.95%
2017-12-31	CA$1.57 Billion ≈ $1.13 Billion	+0.67%
2016-12-31	CA$1.56 Billion ≈ $1.12 Billion	-0.06%
2015-12-31	CA$1.56 Billion ≈ $1.13 Billion	-3.17%
2014-12-31	CA$1.61 Billion ≈ $1.16 Billion	+3.50%
2013-12-31	CA$1.55 Billion ≈ $1.12 Billion	+8.52%
2012-12-31	CA$1.43 Billion ≈ $1.04 Billion	+21.99%
2011-12-31	CA$1.17 Billion ≈ $848.47 Million	+149.09%
2010-12-31	CA$470.89 Million ≈ $340.63 Million	-4.18%
2009-12-31	CA$491.41 Million ≈ $355.48 Million	-5.95%
2008-12-31	CA$522.48 Million ≈ $377.95 Million	+3.80%
2007-12-31	CA$503.36 Million ≈ $364.12 Million	+0.17%
2006-12-31	CA$502.49 Million ≈ $363.50 Million	+37.66%
2005-12-31	CA$365.03 Million ≈ $264.05 Million	-30.02%
2004-12-31	CA$521.60 Million ≈ $377.32 Million	-1.79%
2003-12-31	CA$531.11 Million ≈ $384.20 Million	-3.66%
2002-12-31	CA$551.32 Million ≈ $398.81 Million	+17.76%
2001-12-31	CA$468.16 Million ≈ $338.66 Million	+3.88%
2000-12-31	CA$450.67 Million ≈ $326.01 Million	+12.48%
1999-12-31	CA$400.68 Million ≈ $289.84 Million	+58.61%
1998-12-31	CA$252.61 Million ≈ $182.73 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Morguard Real Estate Investment Trust's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 20142300000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	CA$201.42 Million	23.29%
Common Stock	CA$651.97 Million	75.40%
Other Comprehensive Income	CA$-2.00 Million	-0.23%
Other Components	CA$13.34 Million	1.54%
Total Equity	CA$864.72 Million	100.00%

Morguard Real Estate Investment Trust Competitors by Market Cap

The table below lists competitors of Morguard Real Estate Investment Trust ranked by their market capitalization.

Company	Market Cap
BIGLARI HLDGS CL. A F:SQ7A	$314.40 Million
Precious Shipping Public Company Limited BK:PSL	$314.68 Million
Spire Global Inc NYSE:SPIR	$314.78 Million
Weyco Group Inc NASDAQ:WEYS	$314.91 Million
Universal Cables Limited NSE:UNIVCABLES	$314.23 Million
CASIN Real Estate Development Group Co Ltd SHE:000838	$314.01 Million
ADF Foods Limited NSE:ADFFOODS	$313.83 Million
Real Matters Inc TO:REAL	$313.83 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Morguard Real Estate Investment Trust's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 884,227,000 to 864,721,000, a change of -19,506,000 (-2.2%).
Net loss of 16,561,000 reduced equity.
Dividend payments of 3,779,000 reduced retained earnings.
Other comprehensive income increased equity by 384,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	CA$-16.56 Million	-1.92%
Dividends Paid	CA$3.78 Million	-0.44%
Other Comprehensive Income	CA$384.00K	+0.04%
Other Changes	CA$450.00K	+0.05%
Total Change	CA$-	-2.21%

Book Value vs Market Value Analysis

This analysis compares Morguard Real Estate Investment Trust's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 0.49x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 0.70x to 0.49x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1998-12-31	CA$9.32	CA$6.54	x
1999-12-31	CA$12.24	CA$6.54	x
2000-12-31	CA$10.72	CA$6.54	x
2001-12-31	CA$10.03	CA$6.54	x
2002-12-31	CA$12.44	CA$6.54	x
2003-12-31	CA$11.97	CA$6.54	x
2004-12-31	CA$11.72	CA$6.54	x
2005-12-31	CA$8.15	CA$6.54	x
2006-12-31	CA$9.86	CA$6.54	x
2007-12-31	CA$8.52	CA$6.54	x
2008-12-31	CA$8.85	CA$6.54	x
2009-12-31	CA$8.53	CA$6.54	x
2010-12-31	CA$7.33	CA$6.54	x
2011-12-31	CA$18.43	CA$6.54	x
2012-12-31	CA$23.36	CA$6.54	x
2013-12-31	CA$21.20	CA$6.54	x
2014-12-31	CA$22.61	CA$6.54	x
2015-12-31	CA$25.19	CA$6.54	x
2016-12-31	CA$21.63	CA$6.54	x
2017-12-31	CA$21.28	CA$6.54	x
2018-12-31	CA$21.33	CA$6.54	x
2019-12-31	CA$25.32	CA$6.54	x
2020-12-31	CA$18.64	CA$6.54	x
2021-12-31	CA$17.96	CA$6.54	x
2022-12-31	CA$16.37	CA$6.54	x
2023-12-31	CA$14.96	CA$6.54	x
2024-12-31	CA$13.76	CA$6.54	x
2025-12-31	CA$13.27	CA$6.54	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Morguard Real Estate Investment Trust utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): -1.92%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -6.92%
• Asset Turnover: 0.11x
• Equity Multiplier: 2.50x
Recent ROE (-1.92%) is below the historical average (3.75%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1998	9.32%	30.99%	0.16x	1.87x	CA$-1.62 Million
1999	7.37%	29.21%	0.11x	2.21x	CA$-9.99 Million
2000	8.76%	27.50%	0.13x	2.38x	CA$-5.26 Million
2001	9.16%	25.88%	0.16x	2.28x	CA$-3.71 Million
2002	7.46%	25.11%	0.14x	2.13x	CA$-14.02 Million
2003	5.90%	16.95%	0.14x	2.41x	CA$-21.75 Million
2004	7.97%	21.07%	0.16x	2.40x	CA$-10.57 Million
2005	4.20%	7.84%	0.16x	3.42x	CA$-21.16 Million
2006	10.59%	30.18%	0.13x	2.67x	CA$2.97 Million
2007	12.58%	33.25%	0.14x	2.78x	CA$12.99 Million
2008	16.14%	41.75%	0.16x	2.39x	CA$32.07 Million
2009	6.58%	15.67%	0.16x	2.61x	CA$-16.79 Million
2010	6.23%	13.27%	0.16x	2.92x	CA$-17.75 Million
2011	13.50%	67.16%	0.11x	1.82x	CA$41.01 Million
2012	15.97%	90.36%	0.09x	1.89x	CA$85.37 Million
2013	13.68%	75.95%	0.10x	1.90x	CA$57.11 Million
2014	7.09%	38.16%	0.10x	1.88x	CA$-46.83 Million
2015	1.71%	9.15%	0.10x	1.88x	CA$-129.00 Million
2016	3.68%	20.38%	0.09x	1.95x	CA$-98.31 Million
2017	4.30%	24.15%	0.10x	1.87x	CA$-89.25 Million
2018	4.62%	26.41%	0.09x	1.88x	CA$-85.03 Million
2019	-2.77%	-15.60%	0.09x	1.91x	CA$-196.35 Million
2020	-35.48%	-161.84%	0.10x	2.21x	CA$-526.47 Million
2021	-4.11%	-19.62%	0.10x	2.16x	CA$-162.58 Million
2022	-13.14%	-56.90%	0.10x	2.26x	CA$-243.15 Million
2023	-7.75%	-29.19%	0.11x	2.37x	CA$-170.56 Million
2024	-6.65%	-22.70%	0.12x	2.46x	CA$-147.25 Million
2025	-1.92%	-6.92%	0.11x	2.50x	CA$-103.03 Million

Industry Comparison

This section compares Morguard Real Estate Investment Trust's net assets metrics with peer companies in the REIT - Diversified industry.

Industry Context

Industry: REIT - Diversified
Average net assets among peers: $867,841,941
Average return on equity (ROE) among peers: 7.95%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Morguard Real Estate Investment Trust (MRT-UN)	CA$864.72 Million	9.32%	1.50x	$314.29 Million
Artis Real Estate Investment Trust (AX-UN)	$2.46 Billion	15.85%	0.86x	$851.22 Million
Crombie Real Estate Investment Trust (CRR-UN)	$782.00 Million	5.08%	1.73x	$1.35 Billion
H&R Real Estate Investment Trust (HR-UN)	$143.81 Million	0.22%	1.37x	$2.02 Billion
Canadian Net Real Estate Investment Trust (NET-UN)	$90.21 Million	10.67%	1.32x	$98.34 Million

About Morguard Real Estate Investment Trust

TO:MRT-UN Canada REIT - Diversified

Market Cap

$314.29 Million

CA$434.47 Million CAD

Market Cap Rank

#14759 Global

#432 in Canada

Share Price

CA$6.54

Change (1 day)

-0.61%

52-Week Range

CA$5.52 - CA$6.99

All Time High

CA$9.82