Minto Apartment REIT (MI.UN.TO) Buy, Sell or…

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Minto Apartment REIT (MI.UN.TO)

17.99

+0.03 (0.17%)

as of Aug 6, 2026, 8:00:00 pm Market Closed.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

TOP PICK

Stockchase Research Editor: Michael O’Reilly

Despite the impact of higher interest rates, MI-UN is showing reporting rising cash reserves, while debt is being retired. Same property revenues are up 8% and occupancy averages 97%. It trades below book value and supports a 20% ROE. It pays a good dividend, backed by a payout ratio under 10% of cash flow. We recommend placing a stop-loss at $12.00, looking to achieve $19.50 — upside potential over 32%. Yield 3.2%

(Analysts’ price target is $19.23)

BUY

Did its IPO two years ago but has been around for decades. Its main focus is the Ottawa market but also covers Toronto, Montreal and Calgary. Trades at a wide discount to the private market value of its assets. There is a bit of a structural deficiency in trading terms. It is at a good price with occupancy increasing.

WEAK BUY

They're concentrated in Ottawa, Toronto, then Montreal, Edmonton and Calgary. Their apartments are skewed to the higher end in cities which saw an exodus during Covid. They've suffered occupancy losses during Covid, but that has bottomed. In the past quarter though, occupanies are up 3.5% YOY, though Montreal has been difficult to operate in (more of a foreign student market). Overall, there's more upside than down here.

COMMENT

Sector very vulnerable to rising rates. For a multi-residential Minto type REIT, the cap rates don't reflect interest rates. Not trading at bargain levels.

BUY

Stock has under preformed this year. Trading at 48% discount to net asset value. Currently presenting a good buying opportunity. Not much downside given current share price. Record population growth in Canada this year is good for the company. Upper end buildings in Toronto and Ottawa.

BUY

Looking into the sector as interest rates go up (good buying opportunity). Believes company has been discounted too much. Rental market in greater Toronto area tight. Company presenting good long term buying opportunity.

BUY

Suffering from the macro lens of government policy concerns, which is a great opportunity to take advantage of. Risk/reward is to your favour. Sees return of demand and increasing rents. Wide discount to NAV.

BUY

Similar to InterRent in terms of geological space. Good population growth. Has been building position since the fourth quarter. Catalysts are on the horizon.

BUY

Likes it. They operate in cities, multifamily units in Toronto, Ottawa and Montreal. The REIT is no longer a bargain, but he expects immigration and students returning to school later this year to raise demand, so there's upside to this REIT. You can buy this now.

BUY ON WEAKNESS

Apartment sector in Canada, concentrated in Ottawa, but also across Canada. Hurt because of high-end exposure to downtown areas. Cheap. Thinks highly of management. Should do well in a v-shaped recovery. Trades at a discount. Hold it, and look for pullbacks to buy.

BUY

Allan Tong’s Discover Picks In the past month, Minto has performed -5.1% vs. CAP REIT’s -7.7%. Then again, one could argue that the market is reacting to the pressure that the overall apartment sector faces and not just the high-end units. Read Top REITs in Canada : MI.UN Stock and GRT.UN Stock for our full analysis.

TOP PICK

They own the highest-quality residential properties in Toronto, Ottawa, Montreal, Calgary and Edmonton. It's trading at a 24% discount to NAV vs. peers of 10%. Recent underperformance is a reaction to the trend of people moving to the suburbs. The rents are 13% below market, so there'll be much growth. She expects them to raise the dividend on Tuesday night. A good pipeline for growth. (Analysts’ price target is $22.75)

BUY

It trades at a discount. It focuses on key urban centers. It benefited from strong net immigration and this will pause short term. He believes immigration should continue going forward. Every time a tenant moves out they can move the rent higher.

HOLD

An apartment landlord primarily in Ontario with a growing presence in Quebec. Demand for apartment units had pushed rents up significantly. Coming out of COVID, you want to be invested in the multi-family space. You won't see the growth in the next couple of years. It's a very capable management team. The distribution is safe.

DON'T BUY

BEI.UN-T, MI.UN-T and CAR.UN-T. REITs are an interesting universe right now. There is mortgage deferral relief, commercial rent relief. Residential is the best place to be right now. CAR.UN-T would be the best one. BEI.UN-T has a good component out west with potential risk for Alberta. People are going to need places to live and if they can't pay their mortgages then they will have to rent.

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Minto Apartment REIT (MI.UN.TO)

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