Overview

* Minto Apartment REIT Q2 revenue down 1.1%

* Normalized FFO per unit falls 2.5%, AFFO per unit down 3.2%

* REIT reports net loss of C$1.1 mln, impacted by fair value losses

Outlook

* Company expects to reposition 50 to 70 suites in 2025

* Company sees commercial lease commencements in November 2025 and January 2026

Result Drivers

* SPP REVENUE GROWTH - Driven by a 5.2% increase in average monthly rent, despite higher suite turnover and vacancy

* LEASING STRATEGIES - Implemented flexible pricing and early renewals to bolster occupancy

* COMMERCIAL LEASING - Executed new leases expected to generate over $1.0 mln in annual rent

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 C$38.48

Revenue mln

from

Investme

nt

Properti

es

Q2 C$13.34

Adjusted mln

FFO

Q2 FFO C$15.14

mln

Q2 C$0.2391

Adjusted

FFO Per

Share

Q2 FFO C$0.2391

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the residential reits peer group is "buy"

* Wall Street's median 12-month price target for Minto Apartment Real Estate Investment Trust is C$16.00, about 14.8% above its August 12 closing price of C$13.63

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)