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MIAPF Fair Value & Analysis

Real Estate · US · Market cap $783M

M MIAPF logo MIAPF MIAPF · US
Price$13.49
Fair Value$8.88
Upside-34.2%
Quality57/100
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Mixed Growth
Moderate debt · generates free cash flow
4.19% dividend yield
Ranks above peers (7/11)
Narrow moat 44/100
Evidence: Medium Range $5.48 – $15.90 Share as image

Fair value as of: Aug 13, 2026

From 10 valuation models · updated today

Fair value updated Aug 13, 2026, revised from $8.54 to $8.88 (+4.0%) since Jul 27, 2026. Share price +7.8% over the past month.

A solid business, but screening 34% overvalued on our models.

What matters now

  • The model range is unusually wide ($5.48 to $15.90). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (2 years)

$13.49 $7.53 Fair Value $8.88 Apr 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

28‑month range $7.53 – $13.49 · fair‑value band $5.48 – $15.90 · the $13.49 price screens above the $8.88 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

MIAPF (MIAPF) currently trades at $13.49, while our model-based Fair Value estimate is $8.88, implying the stock looks roughly 34.2% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Trailing-twelve-month revenue stands at $152M. Revenue declined 2.1% year over year. It earns a return on equity of -39.8%. Net debt stands at $1.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from $5.48 (bear case) to $15.90 (bull case); at $13.49, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 49% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -44% fair-value upside, at -34%, MIAPF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $4.71 $13.55 80
Rev-Margin DCF $4.55 $14.21 74
Gordon GGM $8.02 $10.04 $11.92 70
All 10 models by family
DCF Models
FCF DCF $4.51 $14.55 38
5Y Revenue Exit $4.86 $16.55 39
10Y Revenue Exit $3.60 $11.60 36
Dividend Discount
Gordon GGM $8.02 $10.04 $11.92 70
DDM Multi-Stage $8.02 $10.38 $12.87 61
Multiples
EV/EBIT $13.91 $26.54 $39.17 53
EV/Revenue $5.52 $14.38 43
Asset-Based
NCAV (Graham) $11.08 $14.85 $22.17 50
Growth DCF
Growth DCF $4.71 $13.55 80
Rev-Margin DCF $4.55 $14.21 74

Widest divergence: Asset-Based ($14.85) versus DCF Models ($4.51). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $152M
Revenue growth (YoY) -2.1%
Net margin -237%
Return on equity -39.8%
Free cash flow $96.0M FY2025
Operating margin 44.2%
More key figures
EPS (TTM) $-7.04
Dividend yield 4.2%
Net debt $1.0B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 54 · Market factors (momentum, volatility) 67

Profitability 2
Margins and returns on capital today
Quality Growth 22
Are margins and returns improving?
Cashflow 100
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 61
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 90
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada.

Full company description

Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada. As of December 31, 2020, its portfolio consists of interests in 29 multi-residential rental properties, including three mixed-use residential apartment and commercial buildings in Toronto, Ottawa, Montréal, Calgary, and Edmonton. Minto Apartment Real Estate Investment Trust was founded in 2018 and is headquartered in Ottawa, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

MIAPF reported revenue of $154M in FY2025 versus $124M in FY2021, a compound +5.7%/yr. Reported net income was −$244M in FY2025.

Growth Quality 38/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$154M
Latest YoY
−1.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.3%
Revenue +5.7%/yr
FY21 $124M
FY22 $144M
FY23 $158M
FY24 $157M
FY25 $154M
Net income
FY21 $94.2M
FY22 $225M
FY23 −$117M
FY24 $63.2M
FY25 −$244M

MIAPF screens 34% overvalued. Compare with AvalonBay Communities, Inc →

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Cite: Fair Value Calculator (2026). "MIAPF Fair Value". https://www.fairvalue-calculator.com/stock/MIAPF

Peer Group

REIT - Residential · 49 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 57 · Above median
Fair Value upside −34% · Below median
Return on assets 2% · Above median
Operating margin (TTM) 44% · Top 25%
Revenue growth -2% · Bottom 25%
Dividend yield (TTM) 4.2% · Above median
Debt / equity 1.09× · Higher than median

Valuation Multiples vs REIT - Residential median · lower = cheaper

P/B 0.96× · Cheaper than median
P/S (TTM) 5.14× · Cheaper than median
P/FCF 8.2× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 0 · sector 12
PAST 0 · sector 6
HEALTH 46 · sector 61
DIVIDEND 84 · sector 73

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more REIT - Residential stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
AvalonBay Communities, Inc AVB $179.79 $126.12 -30%
EQR EQR $64.42 $36.19 -44%
Essex Property Trust, Inc ESS $282.46 $177.90 -37%
Invitation Homes INVH $29.78 $15.91 -47%
Mid-America Apartment Communities, Inc MAA $132.33 $65.28 -51%
Sun Communities, Inc SUI $118.34 $121.64 +3%
UDR, Inc UDR $37.30 $19.76 -47%
American Homes 4 Rent (AMH or the General Partner) AMH $33.83 $21.07 -38%
Equity LifeStyle Properties, Inc ELS $63.97 $20.93 -67%
Camden Property Trust, an S&P 500 Company CPT $108.38 $41.51 -62%

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Frequently asked questions

Is MIAPF overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $8.88 versus a price of $13.49, about −34% (overvalued).
What is the fair value of MIAPF?
Our model-based fair value for MIAPF is $8.88 (as of Aug 13, 2026), built from audited fundamentals. The current price is $13.49.
What is the quality score of MIAPF?
MIAPF has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of MIAPF?
MIAPF reported trailing-twelve-month revenue of about $152M (latest available figure, as of Aug 13, 2026).
Does MIAPF pay a dividend?
MIAPF currently shows a dividend yield of about 4.19% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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