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Morguard Real Estate Investment Trust Announces 2018 Third Quarter Results
Morguard Real Estate Investment Trust Announces 2018 Third Quarter Results Canada ...
About this update from Morguard Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nMorguard Real Estate Investment Trust Announces 2018 Third Quarter Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Oct. 31, 2018\n\n\n\nMISSISSAUGA, ON, Oct. 31, 2018 /CNW/ - Morguard Real Estate Investment Trust (\"the Trust\") (TSX: MRT.UN) today is pleased to announce its financial results for the three and nine months ended September 30, 2018.  These results have been prepared in accordance with International Financial Reporting Standards (\"IFRS\"). \nThe Trust's net income and comprehensive income for the three months ended September 30, 2018, was $5.0 million versus a net loss of $15.2 million for the three months ended September 30, 2017.\nThe increase of $20.2 million is largely the result of fair value changes.  Fair value losses for the three months ended September 30, 2018, were $16.9 million, versus fair value losses of $38.2 million for the three months ended September 30, 2017.\nIncome before fair value losses and net (loss)/income from equity-accounted investment was $22.1 million for the three months ended September 30, 2018, compared to $22.4 million for the same period ended September 30, 2017.  The decrease of $0.4 million is largely the result of a decrease in net operating income ($0.2 million), combined with an increase in interest expense ($0.1 million) and other expenses ($0.1 million).\nNet operating income was $37.2 million for the three months ended September 30, 2018, versus $37.4 million for the three months ended September 30, 2017.\nThere are three components contributing to the decrease in net operating income of $0.2 million.  In the retail portfolio, increased vacancy ($1.0 million), including the impact of vacancy tied to the...