Apartment Income REIT (NYSE:AIRC) and Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF) Critical Review

Morguard North American Residential Real Estate Investment Trust (OTCMKTS:MNARF – Get Free Report) and Apartment Income REIT (NYSE:AIRC – Get Free Report) are both real estate companies, but which is the better business? We will compare the two companies based on the strength of their valuation, earnings, institutional ownership, profitability, dividends, risk and analyst recommendations.

Earnings & Valuation

This table compares Morguard North American Residential Real Estate Investment Trust and Apartment Income REIT’s revenue, earnings per share and valuation.

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Apartment Income REIT has higher revenue and earnings than Morguard North American Residential Real Estate Investment Trust. Morguard North American Residential Real Estate Investment Trust is trading at a lower price-to-earnings ratio than Apartment Income REIT, indicating that it is currently the more affordable of the two stocks.

Dividends

Morguard North American Residential Real Estate Investment Trust pays an annual dividend of $0.60 per share and has a dividend yield of 4.7%. Apartment Income REIT pays an annual dividend of $1.80 per share and has a dividend yield of 4.9%. Morguard North American Residential Real Estate Investment Trust pays out 43.2% of its earnings in the form of a dividend. Apartment Income REIT pays out 53.6% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years.

Insider & Institutional Ownership

9.6% of Morguard North American Residential Real Estate Investment Trust shares are owned by institutional investors. Comparatively, 98.1% of Apartment Income REIT shares are owned by institutional investors. 0.9% of Apartment Income REIT shares are owned by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.

Profitability

This table compares Morguard North American Residential Real Estate Investment Trust and Apartment Income REIT’s net margins, return on equity and return on assets.

Analyst Ratings

This is a summary of recent ratings and recommmendations for Morguard North American Residential Real Estate Investment Trust and Apartment Income REIT, as reported by MarketBeat.

Morguard North American Residential Real Estate Investment Trust presently has a consensus price target of $23.50, indicating a potential upside of 84.69%. Apartment Income REIT has a consensus price target of $41.00, indicating a potential upside of 12.33%. Given Morguard North American Residential Real Estate Investment Trust’s higher probable upside, equities analysts clearly believe Morguard North American Residential Real Estate Investment Trust is more favorable than Apartment Income REIT.

Summary

Apartment Income REIT beats Morguard North American Residential Real Estate Investment Trust on 10 of the 12 factors compared between the two stocks.

About Morguard North American Residential Real Estate Investment Trust

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The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario. The Units of the REIT trade on the Toronto Stock Exchange under the ticker symbol MRG.UN. With a strategic focus on the acquisition of high-quality multi-suite residential properties in Canada and the United States, the REIT maximizes long-term Unit value through active asset and property management. The REIT's portfolio is comprised of 13,089 residential suites and 239,500 square feet of commercial area (as of April 25, 2023) located in Alberta, Ontario, Colorado, Texas, Louisiana, Illinois, Georgia, Florida, North Carolina, Virginia and Maryland with an appraised value of approximately $3.9 billion at March 31, 2023.

About Apartment Income REIT

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Apartment Income REIT Corp (AIR Communities) (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (REIT). AIR's portfolio comprises 75 communities totaling 25,797 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management. The AIR Edge is a durable operating advantage in driving organic growth, as well as making possible the opportunity for excess returns for properties new to AIR's platform.

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