Canada's Minto Apartment REIT Q3 revenue falls due to Castleview sale

Minto Apartment Real Estate Investment Trust

04/11/2025 22:14

Corrects Adjusted FFO Per Share in Key Details to C$0.235 from C$0.26

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/Miss
Actual
Consensus Estimate
Q3 Revenue from Investment Properties
C$39.05 mln
Q3 Adjusted FFO
C$14.66 mln
Q3 FFO
C$16.26 mln
Q3 Adjusted FFO Per Share
C$0.235
Q3 FFO Per Share
C$0.26


Press Release: ID:nCNWkBF1ga

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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.)