09:21 AM EST, 02/06/2025 (MT Newswires) -- Morguard Real Estate Investment Trust (MRT-UN.TO) on Thursday said the Toronto Stock Exchange approved the company's normal course issuer bid.

For one year beginning on Feb. 9, the trust can buy back for cancellation up to 3.2 million units, or about 5% of the outstanding units.

The Trust may also, during the same period, buy for cancellation up to $9.8 million in 5.25% convertible unsecured subordinated debentures due Dec. 31, 2026.

Shares of the company closed up 2.5% at $17.28 on Wednesday on the TSX.