Minto Apartment Real Estate Investment Trust ( MI.UN:CA ) Q3 2025 Earnings Call November 5, 2025 10:00 AM EST Company Participants Jonathan Li - President, CEO & Director Edward Fu - Chief Financial Officer Conference Call Participants Sairam Srinivas - Cormark Securities Inc., Research Division Jonathan Kelcher - TD Cowen, Research Division Kyle Stanley - Desjardins Securities Inc., Research Division Bradley Sturges - Raymond James Ltd., Research Division Mario Saric - Scotiabank Global Banking and Markets, Research Division Khing Shan - RBC Capital Markets, Research Division Matt Kornack - National Bank Financial, Inc., Research Division Michael Markidis - BMO Capital Markets Equity Research Dean Wilkinson - CIBC Capital Markets, Research Division Presentation Operator Good morning.
Minto REIT has been beaten down in the last couple of months. With the beat down after the recent results, this residential REIT now yields over 4%. We review the Q1 results and explain why we still think this landlord is a buy.
Minto is trading well below the P/B and P/AFFO ratios of all Canadian listed peers. Growth potential from lease turnover, development pipeline, and unique CDL usage. There is still significant room for growth, indicating potential for future capital appreciation.