Minto Apartment Real Estate Investment Trust
13.49
USD
+0.79
(+6.19%)
ISIN
CA60448E1034
CUSIP
60448E103
Return %
Stock
S&P 500
1Y
35.72
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Jonathan Li
- Full Time Employees
- 260
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- 180 Kent Street Ottawa ON Canada K1P 0B6
- IPO Date
- Jul 3, 2018
- Website
- mintoapartmentreit.com
- Similar Companies
- Business
- Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust primarily engaged in owning and operating a portfolio of high-quality, income-producing multi-residential rental properties. Its core products and services include multi-residential rental housing primarily located in major urban markets across Canada, specifically Toronto, Montreal, Ottawa, Calgary, Vancouver, and Edmonton. The trust's portfolio consists of interests in multi-residential rental properties and mixed-use residential apartment and commercial buildings. Minto Apartment REIT's business segments focus on residential rental property ownership and management. The company targets urban renters seeking quality apartment living, including both wholly and jointly owned properties through strategic partnerships with institutional investors. Founded in 2018 and headquartered in Ottawa, Canada, Minto Apartment REIT has recently undertaken several significant operational and strategic changes. In 2024 and early 2025, it expanded its geographic footprint by entering the Metro Vancouver market through the acquisition of a 50% managing interest in Lonsdale Square in North Vancouver, funded primarily by mortgage financing. The REIT also divested a non-core asset in Ottawa and repaid variable-rate debt through refinancing four properties, enhancing its balance sheet and liquidity position. Additionally, Minto Apartment REIT executed a Normal Course Issuer Bid, repurchasing approximately $15 million of its units, or about 3% of its public float, during this period. The REIT also amended its credit facility, reducing its commitment from $300 million to $200 million. New developments under its portfolio include the 225-unit Richgrove Village in Toronto, expected to stabilize and contribute to revenue in 2026, and a 50% share in the 192-unit York Mills and Leslie project in Toronto, anticipated to stabilize in early 2027. The REIT's latest financial performance highlights include increases in same property revenue and net operating income, alongside growth in normalized funds from operations (FFO) and adjusted funds from operations (AFFO) per unit. It maintains a strong operational focus on capital allocation discipline, lease renewals, and property repositioning initiatives to drive occupancy and rent growth. Minto Apartment REIT also collaborates strategically with community-focused organizations, highlighted by a partnership with Ottawa Community Housing to transfer 311 homes, underscoring its commitment to affordable housing and sustainable development. Overall, Minto Apartment Real Estate Investment Trust operates within the Canadian residential real estate sector, focusing on providing multi-family rental accommodations with a strategy emphasizing geographic diversification, financial prudence, and portfolio quality enhancement to maximize unitholder value within Canada’s largest urban centers. It sustains its business operations through a mix of equity, debt financing, and strategic acquisitions and divestitures. This description reflects the latest known operational activities and financial maneuvers through late 2025, based on publicly available materials and recent corporate disclosures.