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Minto Apartment Reit (TSE:MI.UN)
:MI.UN
Holding TSE:MI.UN?
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-1.94Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2018
|% Change Since: -8.37%
|Next Earnings Date:Aug 13, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a generally positive sentiment with strong revenue and NOI growth, high occupancy rates, and increased distributions. However, challenges such as declining commercial revenue and rising operating expenses were noted. The REIT remains optimistic about future growth despite market challenges.Company Guidance
During the Q3 2024 earnings call for Minto Apartment REIT, management provided comprehensive guidance on their performance and future outlook. The call highlighted a 5.9% growth in average monthly rent for the Same Property portfolio, with a strong closing occupancy of 97.4%. Same Property portfolio NOI increased by 8.2%, while the NOI margin rose by 130 basis points. Normalized FFO and AFFO per unit saw increases of 8.3% and 9.6%, respectively. The REIT's Board approved a 3.0% increase in distributions, continuing a trend of annual increases since their IPO in 2018. Notably, the REIT committed to upward financing of several properties, totaling approximately $91 million, enhancing their financial flexibility. Looking forward, Minto anticipates a sustained demand for rental housing despite potential market challenges, driven by an acute housing shortage and the relative affordability of renting. Management projects mid-single-digit revenue growth for 2025, while operating expenses are expected to rise modestly, influenced by weather-related factors and filling vacant positions.Strong Revenue and NOI Growth
The Same Property portfolio revenue grew by 6.1% to $39.8 million, with NOI increasing by 8.2% year-over-year and NOI margin reaching a quarterly record of 66.2%.
High Occupancy Rates
Closing occupancy remained strong at 97.4%, and average occupancy was consistent at 97.1%.
Distribution Increase
The REIT's Board of Trustees approved a 3.0% increase in distributions, marking a continuation of annual distribution increases since the IPO in 2018.
Reduction in Interest Costs
Prudent capital allocation decisions resulted in a reduction in interest costs, contributing to an 8.3% increase in normalized FFO and a 9.6% increase in AFFO per unit.
Successful Lease Signings
The company signed 449 new leases in the third quarter, generating a realized gain on lease of 10.8%, with Toronto seeing an increase from 9.2% to 10.5%.
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Minto Apartment Real Estate Investment Trust (TSE:MI.UN) Earnings, Revenues Date & History
TSE:MI.UN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:MI.UN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | C$14.09 | C$14.02 | -0.50% |
| Aug 13, 2024 | C$15.58 | C$15.38 | -1.28% |
| May 07, 2024 | C$14.67 | C$14.81 | +0.95% |
| Mar 06, 2024 | C$16.21 | C$16.66 | +2.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Minto Apartment Reit (TSE:MI.UN) report earnings?
Minto Apartment Reit (TSE:MI.UN) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Minto Apartment Reit (TSE:MI.UN) earnings time?
Minto Apartment Reit (TSE:MI.UN) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:MI.UN EPS forecast?
Currently, no data Available
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