Since the Bank of Canada started to hike rates on March 2, 2022, Minto Apartment REIT MI-UN-T has fallen 30 per cent as of June 30 Minto operates 32 multi-residential rental properties in major Canadian cities. Minto has been busy adjusting to the higher rate environment by converting float rate mortgages to fixed rate debt, leaving Minto’s revolving credit facility as its only variable rate exposure. Meanwhile, on June 2, CEO Jonathan Li bought 7,237 units and CFO Edward Fu bought 1,400 units, both at a price of $13.79.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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