Professional
Added to YB: 2024-11-25
Pitch date: 2024-11-22
MI-UN.TO [bullish]
Minto Apartment Real Estate Investment Trust
-4.32%
current return
Author Info
Nugget Capital Partners is a research analyst specializing in resources w/ focus on energy. Sign up for the newsletter.
Company Info
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.
Market Cap
CAD 499.1M
Pitch Price
CAD 13.70
Price Target
N/A
Dividend
3.84%
EV/EBITDA
N/A
P/E
7.82
EV/Sales
10.22
Sector
Residential REITs
Category
value
Year-end TSX market dredge opportunities - Minto Apartment Real Estate Investment Trust
MI-UN.TO long: Canadian apartment REIT at ~40% NAV discount, 5.3% implied cap rate. In-place rents 27% below market. CEO confident in selling at full NAV. Recent sale of worst property at full IFRS NAV. Potential for aggressive buybacks. Insider buying. Strong rent growth & lease gains. Upgrading units to capture higher rents.
Read full article (2 min)