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Minto Apartment REIT (MI.UN-T)
TSE:MI.UN
13.01
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Technical Analysis
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Minto Apartment REIT is currently trading at a significant discount to its private market value, making it an attractive option for investors. The company's strong capital allocation and management practices are seen as positive factors, even as the macro environment for Canadian apartments appears challenging due to high housing costs and competition from new supply. While the REIT faces hurdles such as rent controls and a potential slowdown in immigration, long-term prospects remain favorable, driven by ongoing housing shortages and immigration trends that support demand for rentals. Overall, experts note that there is a need for patience as Minto navigates these conditions, with expectations for volatility in the stock price but a solid foundation for future growth.
$13.230
Unknown
Long-term, yes, for residential REITs, like apartment ones. They also benefit from more immigration. This leads to higher rents. InterRent, Minto and CAP are his preferreds in this space. CAP is the biggest, and they hold a super-quality portfolio that they've been upgrading in recent years. All these are focused in Ontario. but they benefit from lower interest rates. A caveat: Ottawa is slowing immigration to Canada, which feeds demand for apartments. Expect choppiness, but these are good holds. Minto has a great relationship with a private developer who build high-quality homes. They have great capital discipline. But they are exposed to the Toronto market, and their quality homes puts them in competition with the current condo glut in Toronto. This won't hurt Minto's long-term, but the stock will be choppy.
Quite a discount to NAV, attractive. Lower yield, 3.5% range. Strong management, CEO is now internal. Looking to grow bottom line. Fixed balance sheet. On a good path. Political risk from rent control, but that's not imminent.
Lots of value, trades at wide discount to NAV. When will the gap close? Show-me story, needs to show bottom-line earnings growth and starting to do so. Smart capital allocation decisions starting to happen. Quality real estate, discount to the sector, buy and do well long term.
Great portfolio, solid management. Surprising that it trades below its IPO price. Has had best-in-class portfolio, but not necessarily best-in-class balance sheet. Topline growth has not fallen to bottom line. Too much variable interest rate exposure.
Looking to sell assets to reduce leverage, giving them capacity to expand in BC market. Thinks troubles are behind them, "show me" in terms of execution.
Renewals growth of 6-8%. Federal government's supporting increased supply. It's fine. Good chance you'll see a recovery. Cheap, trades at 10-15% discount. Nothing better than apartments right now, because market's so tight.
Our PAST TOP PICK with MI.UN has triggered its stop at $13. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 12%, when combined with previous recommendations.
We reiterate this REIT which owns multi-resident properties across the country as a TOP PICK. With a rising cost of capital, the company prudently terminated an option to purchase an apartment complex, which allowed it to reduce debt and build its cash reserves. It trades under book value and supports a 14% ROE thanks to a 56% operating margin. It pays a good dividend, backed by a payout ratio under 15% of cash flow. We continue to recommend a stop-loss at $13, looking to achieve $19 -- upside potential of 24%. Yield 3.2%
(Analysts’ price target is $19.23)Average occupancy rates continue to improve helping revenue to grow over 10% annually. The company sees the widening gap between insufficient new housing supply and demand for affordable housing working in their favour. They have aggressively rebalanced a large segment of their debt at interest rates half of previous rates, while also building cash reserves. It supports a 14% ROE and its dividend is backed by a payout ratio under 15% of cash flow. We recommend trailing up the stop (from $12) to $13, looking to achieve $19 -- upside potential over 25%. Yield 3.1%
(Analysts’ price target is $19.31)Apartment sector extremely interesting right now. Rents are going up 10% YOY. Good assets to own for the long term. Regulatory overhang. He owns MEQ.
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)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.
Minto Apartment REIT(MI.UN-T) Rating
Ranking : 3 out of 5
Bullish - Buy Signals / Votes : 2
Neutral - Hold Signals / Votes : 2
Bearish - Sell Signals / Votes : 0
Total Signals / Votes : 4
Minto Apartment REIT(MI.UN-T) Frequently Asked Questions
What is Minto Apartment REIT stock symbol?
Minto Apartment REIT is a Canadian stock, trading under the symbol MI.UN-T on the Toronto Stock Exchange (MI.UN-CT). It is usually referred to as TSX:MI.UN or MI.UN-T
Is Minto Apartment REIT a buy or a sell?
In the last year, 4 stock analysts published opinions about MI.UN-T. 2 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Minto Apartment REIT.
Is Minto Apartment REIT a good investment or a top pick?
Minto Apartment REIT was recommended as a Top Pick by on . Read the latest stock experts ratings for Minto Apartment REIT.
Why is Minto Apartment REIT stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Minto Apartment REIT worth watching?
4 stock analysts on Stockchase covered Minto Apartment REIT In the last year. It is a trending stock that is worth watching.
What is Minto Apartment REIT stock price?
On 2025-02-21, Minto Apartment REIT (MI.UN-T) stock closed at a price of $13.01.
Good job on capital allocation. Trades at wide discount to private market value. Macro for Canadian apartment fundamentals has been somewhat lackluster. Lots of competitive new supply. Housing costs are unaffordable, so low rental turnover. Rent controls limit increases. Very safe distribution. Need patience for Canada's economic picture to improve.