Minto is a REIT that owns and operates a portfolio of 29 high quality, multi-residential properties in Toronto, Ottawa, Montreal, Calgary, and Edmonton. It describes itself as Canada’s only 100% urban residential REIT, as all of its properties are located in urban core areas with excellent transport links.
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Minto is off 28.5% this year so far and selling at a remarkable 35% discount to its net asset value of $24.33 per unit (but that’s up 1.4% from end 2021). At this price, Minto is a very attractive play on the return of demand for urban living as restaurants, cinemas, museums, and sporting activities reopen after the pandemic and rents as a percentage of average wages remain at the same level as most of the last decade. Buy now. - Gavin Graham
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