Stock MI.UN MINTO APARTMENT REAL ESTATE INVESTMENT TRUST
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Financials Minto Apartment Real Estate Investment Trust

Equities

MI.UN

CA60448E1034

Residential REITs

Delayed Toronto S.E.
Other stock markets
 11:00:43 2024-06-20 EDT 		5-day change 1st Jan Change
14.48 CAD -0.48% Intraday chart for Minto Apartment Real Estate Investment Trust -4.80% -10.51%
06-17 Minto Apartment Real Estate Investment Trust Announces June 2024 Cash Distribution, Payable on July 15, 2024 CI
05-15 Minto Apartment Real Estate Investment Trust Announces May 2024 Cash Distribution, Payable on June 14, 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 839.8 738.9 877.1 560.4 645.6 580.7 -
Enterprise Value (EV) 1 839.8 738.9 877.1 560.4 1,799 1,695 1,713
P/E ratio - - - - - - -
Yield 1.83% 2.19% 2.09% - 3.04% 3.51% 3.61%
Capitalization / Revenue 8.04 x 5.91 x 7.1 x 3.9 x 4.09 x 3.66 x 3.43 x
EV / Revenue 8.04 x 5.91 x 7.1 x 3.9 x 11.4 x 10.7 x 10.1 x
EV / EBITDA 14.1 x 10.3 x 12.8 x 6.47 x 18.1 x 17.3 x 16.4 x
EV / FCF -1.56 x 18.9 x -14 x - 40.1 x -33.9 x 65.9 x
FCF Yield -63.9% 5.28% -7.16% - 2.49% -2.95% 1.52%
Price to Book 1.22 x 0.87 x 0.87 x - - - -
Nbr of stocks (in thousands) 36,275 36,275 40,070 39,888 39,899 39,909 -
Reference price 2 23.15 20.37 21.89 14.05 16.18 14.55 14.55
Announcement Date 3/10/20 3/11/21 3/8/22 3/8/23 3/6/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 104.4 124.9 123.5 143.8 157.9 158.8 169.3
EBITDA 1 59.69 71.99 68.64 86.65 99.24 98.14 104.1
EBIT - - - - - - -
Operating Margin - - - - - - -
Earnings before Tax (EBT) - - - - - - -
Net income - - - - - - -
Net margin - - - - - - -
EPS - - - - - - -
Free Cash Flow 1 -536.9 39.03 -62.8 - 44.88 -50 26
FCF margin -514.29% 31.24% -50.83% - 28.42% -31.5% 15.35%
FCF Conversion (EBITDA) - 54.22% - - 45.22% - 24.97%
FCF Conversion (Net income) - - - - - - -
Dividend per Share 2 0.4225 0.4463 0.4584 - 0.4925 0.5100 0.5250
Announcement Date 3/10/20 3/11/21 3/8/22 3/8/23 3/6/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 32.43 31.66 35.51 37.84 37.92 38.4 39.4 39.84 40.29 - 38.6 39 39
EBITDA 1 - - - - - - - - 26.42 24.53 22.7 22.6 21.9
EBIT - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income - - - - - - - - - - - - -
Net margin - - - - - - - - - - - - -
EPS - - - - - - - - - - - - -
Dividend per Share 2 0.1171 - - - - - - - - - 0.1300 0.1300 0.1300
Announcement Date 3/8/22 5/3/22 8/9/22 11/8/22 3/8/23 5/9/23 8/8/23 11/7/23 3/6/24 5/7/24 - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net Debt 1 - - - - 1,154 1,114 1,132
Net Cash position 1 - - - - - - -
Leverage (Debt/EBITDA) - - - - 11.63 x 11.35 x 10.87 x
Free Cash Flow 1 -537 39 -62.8 - 44.9 -50 26
ROE (net income / shareholders' equity) - - - - - - -
ROA (Net income/ Total Assets) - - - - - - -
Assets - - - - - - -
Book Value Per Share 18.90 23.40 25.20 - - - -
Cash Flow per Share - - - - - - -
Capex - - - - - - -
Capex / Sales - - - - - - -
Announcement Date 3/10/20 3/11/21 3/8/22 3/8/23 3/6/24 - -
1CAD in Million
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Minto Apartment Real Estate Investment Trust

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
10
Last Close Price
14.55 CAD
Average target price
20.28 CAD
Spread / Average Target
+39.35%
Consensus

Quarterly revenue - Rate of surprise

Company calendar

Sector Residential REITs

1st Jan change Capi.
MINTO APARTMENT REAL ESTATE INVESTMENT TRUST Stock Minto Apartment Real Estate Investment Trust
-10.51% 424M
AVALONBAY COMMUNITIES, INC. Stock AvalonBay Communities, Inc.
+7.65% 28.74B
EQUITY RESIDENTIAL Stock Equity Residential
+10.50% 25.7B
INVITATION HOMES INC. Stock Invitation Homes Inc.
+3.83% 21.89B
ESSEX PROPERTY TRUST, INC. Stock Essex Property Trust, Inc.
+12.68% 18.27B
MID-AMERICA APARTMENT COMMUNITY, INC. Stock Mid-America Apartment Community, Inc.
+3.84% 16.5B
SUN COMMUNITIES, INC. Stock Sun Communities, Inc.
-13.37% 14.46B
UDR INC. Stock UDR Inc.
+5.72% 13.38B
AMERICAN HOMES 4 RENT Stock American Homes 4 Rent
-0.32% 13.24B
EQUITY LIFESTYLE PROPERTIES, INC. Stock Equity LifeStyle Properties, Inc.
-10.67% 11.73B
Residential REITs
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