Morguard Real Estate Investment Trust

MGRUF

Not Compliant
Exchange
Sector
Headquarters
Group
TSE
Real Estate
Canada
Small cap

Morguard Real Estate Investment Trust is not Shariah Compliant because of its involvement in Investment and Financing and related activities.

-

Impure Income*

-

Purification*

-

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Small cap
HOLD
$3.86
$3.62
$3.98
1
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
-6.29%
48.10%
-22.70%
0.00
0.05
0.00%

Shariah Compliance

  • Updated on July 26, 2025
Debt
100%
✗
Non-Compliant Assets
✓
Impure Income

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
100%
✗
Impure Income

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
100%
✗
Impure Income

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
57.07%
✗
Cash
0.34%
✓
Cash & AR
0.69%
✓
Impure Income

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
57.07%
✗
Cash
0.34%
✓
Cash & AR
0.69%
✓
Impure Income

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
-

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Morguard Real Estate Investment Trust is a Canada-based closed-end real estate investment trust. The Trust owns a diversified portfolio of 45 high-quality retail, office and industrial income-producing properties in Canada consisting of approximately 8.1 million square feet of leasable space. The real estate portfolio primarily includes well-located, high-quality office properties in major urban centers, large-enclosed full-scale regional shopping malls that are dominant in their respective markets, neighborhood, and community shopping centers, and a small group of industrial properties. Its services include value creation, asset management and development, access to capital, tenant satisfaction, property management and leasing, maximizing asset value, managing the asset lifecycle and sustainable operations. Morguard Corporation is the parent company of the Trust and owns a diversified portfolio of multi-unit residential, retail, hotel, office and industrial properties.

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