Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada.
Share Price & News
How has Minto Apartment Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MI.UN is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: MI.UN's weekly volatility (2%) has been stable over the past year.
7 Day Return
1 Year Return
Return vs Industry: MI.UN underperformed the Canadian REITs industry which returned 33.8% over the past year.
Return vs Market: MI.UN underperformed the Canadian Market which returned 28.9% over the past year.
Long-Term Price Volatility Vs. Market
How volatile is Minto Apartment Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 months ago | Simply Wall StHave Insiders Been Buying Minto Apartment Real Estate Investment Trust (TSE:MI.UN) Shares This Year?
4 months ago | Simply Wall StWhat Type Of Shareholders Own The Most Number of Minto Apartment Real Estate Investment Trust (TSE:MI.UN) Shares?
Minto Apartment Real Estate Investment Trust Fundamentals Summary
|MI.UN fundamental statistics|
Is MI.UN overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|MI.UN income statement (TTM)|
|Cost of Revenue||CA$45.96m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.87|
|Net Profit Margin||55.70%|
How did MI.UN perform over the long term?See historical performance and comparison
2.0%Current Dividend Yield
Does MI.UN pay a reliable dividends?See MI.UN dividend history and benchmarks
|Minto Apartment Real Estate Investment Trust dividend dates|
|Ex Dividend Date||Sep 28 2021|
|Dividend Pay Date||Oct 15 2021|
|Days until Ex dividend||8 days|
|Days until Dividend pay date||25 days|
Does MI.UN pay a reliable dividends?See MI.UN dividend history and benchmarks
Is Minto Apartment Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MI.UN (CA$23.04) is trading below our estimate of fair value (CA$29.7)
Significantly Below Fair Value: MI.UN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MI.UN is poor value based on its PE Ratio (20x) compared to the Canadian REITs industry average (10.1x).
PE vs Market: MI.UN is poor value based on its PE Ratio (20x) compared to the Canadian market (12.8x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MI.UN's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MI.UN is overvalued based on its PB Ratio (1.6x) compared to the CA REITs industry average (1.1x).
How is Minto Apartment Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if MI.UN's forecast earnings growth is above the savings rate (1.5%).
Earnings vs Market: Insufficient data to determine if MI.UN's earnings are forecast to grow faster than the Canadian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: MI.UN's revenue (8.4% per year) is forecast to grow faster than the Canadian market (6.2% per year).
High Growth Revenue: MI.UN's revenue (8.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MI.UN's Return on Equity is forecast to be high in 3 years time
How has Minto Apartment Real Estate Investment Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MI.UN has a large one-off gain of CA$29.5M impacting its June 30 2021 financial results.
Growing Profit Margin: MI.UN's current net profit margins (55.7%) are lower than last year (74.6%).
Past Earnings Growth Analysis
Earnings Trend: MI.UN's earnings have grown by 19.5% per year over the past 5 years.
Accelerating Growth: MI.UN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MI.UN had negative earnings growth (-24.4%) over the past year, making it difficult to compare to the REITs industry average (5.5%).
Return on Equity
High ROE: MI.UN's Return on Equity (8.2%) is considered low.
How is Minto Apartment Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: MI.UN's short term assets (CA$80.6M) exceed its short term liabilities (CA$58.6M).
Long Term Liabilities: MI.UN's short term assets (CA$80.6M) do not cover its long term liabilities (CA$1.4B).
Debt to Equity History and Analysis
Debt Level: MI.UN's debt to equity ratio (106.4%) is considered high.
Reducing Debt: MI.UN's debt to equity ratio has reduced from 120.2% to 106.4% over the past 5 years.
Debt Coverage: MI.UN's debt is not well covered by operating cash flow (7.5%).
Interest Coverage: MI.UN's interest payments on its debt are not well covered by EBIT (2.1x coverage).
What is Minto Apartment Real Estate Investment Trust current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: MI.UN's dividend (1.98%) is higher than the bottom 25% of dividend payers in the Canadian market (1.64%).
High Dividend: MI.UN's dividend (1.98%) is low compared to the top 25% of dividend payers in the Canadian market (4.51%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, MI.UN has been paying a dividend for less than 10 years.
Growing Dividend: MI.UN's dividend payments have increased, but the company has only paid a dividend for 3 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (34.2%), MI.UN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MI.UN's dividends in 3 years are forecast to be well covered by earnings (48% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Michael Waters (50 yo)
Mr. Michael R. Waters FCPA, FCAS, serves as the Chief Executive Officer at Minto Group Inc. since 2013. Mr. Waters served as President of Minto Communities Canada from 2011 to 2013 and as chief financial o...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD1.03M) is about average for companies of similar size in the Canadian market ($USD1.14M).
Compensation vs Earnings: Michael's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Experienced Management: MI.UN's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
Experienced Board: MI.UN's board of directors are considered experienced (3.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Minto Apartment Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
- Name: Minto Apartment Real Estate Investment Trust
- Ticker: MI.UN
- Exchange: TSX
- Founded: 2018
- Industry: Residential REITs
- Sector: Real Estate
- Implied Market Cap: CA$1.360b
- Market Cap: CA$835.772m
- Shares outstanding: 59.04m
- Website: https://www.mintoapartments.com
- Minto Apartment Real Estate Investment Trust
- 180 Kent Street
- Suite 200
- K1P 0B6
Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada. As of Dece...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/19 22:12|
|End of Day Share Price||2021/09/17 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.