Q: Your thoughts on latest quarter for MRG.UN please. I have owned it for about a dozen years and like the higher yield I get than from other residential reits I own, which seems based not on risk but perhaps on large ownership position by morguard corp - do you agree? Can you explain how they can have a payout ratio below 50% when we are told that reits must payout the bulk of their cash flows or risk paying corporate taxes. And with their payout ratio having been much lower than most other reits for years can you further explain what they have been doing with these funds that they haven’t been forwarding on to shareholders. The dividend growth has been modest and sporadic and I don’t recall that many acquisitions or significant buybacks. Thanks.
5i Research Answer:
EPS was ($0.33) and sales of $85.79M beat estimates of $85.2M. These results reflected modest...