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or many investors, the primary goal of investing is to outperform the overall market. However, in any portfolio, there will be mixed results between individual stocks. Morguard Real Estate Investment Trust (TSE:MRT.UN) has been a disappointing investment for some shareholders, with its share price falling 56% over the last five years. Let's examine whether the company's long-term performance aligns with its underlying business progress.

    Morguard Real Estate Investment Trust isn't currently profitable, so revenue growth is crucial in assessing its prospects. Unfortunately, the company has seen a decline in trailing twelve-month revenue of 1.3% per year over the past half decade. This is not what investors typically want to see. The share price decline of 9% compound over five years is understandable given the company's losses and stagnant revenue.

    The graphic below illustrates how earnings and revenue have changed over time. It's worth noting that the CEO's compensation is lower than the median at similar-sized companies, but this is less important than the company's ability to grow earnings going forward. We recommend examining our free report on Morguard Real Estate Investment Trust's earnings, revenue, and cash flow.

    When evaluating investment returns, it's essential to consider total shareholder return (TSR) rather than just share price return. TSR includes dividend payments (assuming they were reinvested) and the benefit of any discounted capital raising or spin-off. In Morguard Real Estate Investment Trust's case, its TSR of -41% over the last five years exceeds its share price return, largely due to dividend payments.