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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
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Minto Apartment Real Estate Investment Trust
Minto Apartment Real Estate Investment Trust (MI) investor relations material
Minto Apartment Real Estate Investment Trust has been delisted
Minto Apartment Real Estate Investment Trust Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary11 May, 2026
Executive summary
Achieved year-over-year growth in normalized FFO and AFFO per unit, driven by higher same property portfolio (SPP) revenue and NOI, despite a challenging rental market and temporary pause in population growth.
Completed two new properties, expanding the portfolio and supporting long-term growth.
Financial highlights
Total revenue rose 3.7% to $39.4 million compared to Q1 2025; SPP revenue up 3.1%.
SPP NOI increased 4.3% to $24.6 million; SPP NOI margin improved by 70 bps to 62.4%.
Normalized FFO per unit grew 7.4% to $0.2371; normalized AFFO per unit up 7.5% to $0.2106.
Net loss and comprehensive loss of $101.6 million, compared to net income of $15.7 million in Q1 2025, mainly due to non-cash fair value losses.
NAV per unit was $18.56, down 0.4% from December 31, 2025.
Outlook and guidance
Management remains focused on disciplined expense management, strategic leasing, and retention initiatives to navigate new rental supply and market headwinds.
Completion of the arrangement with Crestpoint is expected in the second half of 2026, after which units will be delisted.
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Latest events from Minto Apartment Real Estate Investment Trust
- Trustees, auditors, and executive pay approved as portfolio and financials showed strong growth.MI
AGM 2025 - Acquisition of all trust units by Crestpoint at CAD 18 per unit approved by unitholders.MIEGM 2026
- SPP revenue and NOI grew, but a major non-cash loss drove a net loss; Crestpoint acquisition pending.MIQ4 2025
- SPP revenue and NOI rose, occupancy improved, and distributions increased 2.9%.MIQ3 2025
- SPP revenue and rent rose, but FFO per unit and occupancy declined; new leases to boost future income.MIQ2 2025
- Record NOI margin, higher rents, and 3% distribution increase despite net loss.MIQ3 2024
- Normalized FFO and AFFO per unit saw double-digit growth, with strong rental fundamentals.MIQ2 2024
- Revenue and rents rose 2.1%, but FFO/AFFO per unit fell amid higher costs and supply headwinds.MIQ1 2025
- Record FFO/AFFO per unit, strong SPP growth, and improved leverage highlight FY 2024.MIQ4 2024
Minto Apartment Real Estate Investment Trust
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Frequently asked questions
Minto Apartment Real Estate Investment Trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada. Management focuses on creating long-term shareholder value through the acquisition, renovation and subsequent leasing of apartment complexes. The Company's strategy is to acquire apartment complexes that have demonstrated potential for capital appreciation over time as well as favorable cash flow characteristics. Minto Apartment Real Estate Investment Trust is based in Ottawa, Canada.