04:31 PM EDT, 10/29/2024 (MT Newswires) -- Morguard North American Residential REIT (MRC.TO, MRG-UN.TO) reported after close Tuesday a third quarter loss due to fair-value charges.

The REIT said it lost of $18.8 million for the three months ended Sept. 30, a drop of of $58 million compared to 2023, predominantly due to a higher net fair value loss and an increase in deferred income tax.

The REIT said its net operating income was $52 million, down $400,000 from the year-prior quarter.

Funds from operations were $21.9 million, or $0.40 per unit, down by $0.1 million.

Th REIT's units closed down $0.01 to $18.65 on the Toronto Stock Exchange.