)
Visual21 Oct 2025
Hermès' growth by geographical region visualized
Morguard North American Residential REIT (MRG-UN) investor relations material
Morguard North American Residential REIT Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary31 Jul, 2025
Executive summary
Net income for Q2 2025 was $30.1M, down 40.6% from Q2 2024, mainly due to fair value loss on Class D LP units and lower net fair value gains.
FFO for Q2 2025 increased 9.2% year-over-year to $24.8M, or $0.47 per unit, up from $0.41 per unit.
Total assets at $4.5B as of 06/30/2025, down from $4.6B at 12/31/2024, mainly due to US dollar exchange rate changes.
Net operating income for Q2 2025 was $56.9M, up 4.1% year-over-year, with proportionate NOI rising 4.2%.
FFO payout ratio at 40.3% for Q2 2025, supporting significant cash retention.
Financial highlights
Revenue from real estate properties for Q2 2025 was $88.5M, up from $85.8M in Q2 2024.
NOI margin (IFRS) for Q2 2025 was 64.3%, while proportionate NOI margin was 54.9%.
Interest expense rose by $3.4M due to higher mortgage principal and rates.
Distributions per Unit for Q2 2025 were $0.18999, up from $0.18501 in Q2 2024.
Cash on hand at quarter-end was $66M.
Outlook and guidance
Management expects continued strong and stable market conditions as housing demand outpaces supply.
Q2 is considered a clean quarter and a good basis for modeling the remainder of the year.
NOLs provide runway to shelter current tax for the rest of 2025; some cushion expected into 2026.
A refinancing agreement for a Chicago property was signed for $163.7M at a 5.35% interest rate, with closing expected in Q3 2025.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Morguard North American Residential REIT earnings date
Q3 202530 Oct, 2025
Next Morguard North American Residential REIT earnings date
Q3 202530 Oct, 2025
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Morguard North American Residential REIT is a Canadian REIT that owns and manages multi-residential properties in Canada and the United States. The trust focuses on mid- and high-rise apartments located in urban centers and manages its assets internally. The company is headquartered in Mississauga, Canada, and its shares are listed on the TSX.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage