04:45 PM EDT, 10/30/2024 (MT Newswires) -- Morguard Real Estate Investment Trust (MRT-UN.TO) on Wednesday afternoon reported a swing to third quarter profit.

The REIT reported a net income of $15.6 million, or $0.19 per diluted unit, compared with a loss of near $40 million, or $0.62 per diluted unit, last year.

Adjusted funds from operations rose to $8.75 million, or $0.20 per adjusted unit, from $7.9 million, or $0.12 per unit, last year.

The REIT's units last traded Tuesday, closing at $5.62 on the Toronto Stock Exchange.