10:09 AM EST, 03/07/2024 (MT Newswires) -- Minto Apartment REIT (MI-UN.TO) rose 5% on Thursday

The Canadian multi-residential real estate company reported quarterly results after market close on Wednesday.

"Minto delivered a solid beat in Q4 on the back of strong apartment market fundamentals and a milder winter (lower utility/R&M costs), which should also benefit Q1/24," TD Securities analyst Jonathan Kelcher said in a note to clients.

Kelcher maintained a Buy rating and $19.50 price target on the stock.

Minto shares rose $0.83, or 5%, to $17.50 on the Toronto Stock Exchange.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 17.49, Change: +0.82, Percent Change: +4.92