Overview

* Minto Apartment REIT Q3 revenue from investment properties falls 1.9% yr/yr due to sale of Castleview in Ottawa

* Normalized FFO per unit rises 0.6% despite lower finance income

* Company announces 2.9% increase in annual distribution, seventh consecutive yearly increase

Outlook

* Minto Apartment REIT increases annual distribution by 2.9% effective November 2025

* Company plans to reposition 50 to 70 suites in 2025

* Minto Apartment REIT continues converting furnished suites to unfurnished

Result Drivers

* UNFURNISHED SUITE REVENUE - Growth of 2.4% in unfurnished suite revenue contributed to overall SPP revenue growth

* OCCUPANCY STRATEGIES - Strategic initiatives increased closing occupancy to 96.5% despite higher turnover

* COST MANAGEMENT - Managed operating expenses and capital deployment helped grow Normalized FFO and AFFO per unit

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$39.05

Revenue mln

from

Investme

nt

Properti

es

Q3 C$14.66

Adjusted mln

FFO

Q3 FFO C$16.26

mln

Q3 C$0.26

Adjusted

FFO Per

Share

Q3 FFO C$0.26

Per

Share

Press Release:

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(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.)