MIAPF
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, Montréa… Read more
MIAPF (MIAPF) - Net Assets
Latest net assets as of June 2025: $1.08 Billion USD
Based on the latest financial reports, MIAPF (MIAPF) has net assets worth $1.08 Billion USD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.60 Billion) and total liabilities ($1.52 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.08 Billion |
| % of Total Assets | 41.69% |
| Annual Growth Rate | 7.03% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 12.78 |
MIAPF - Net Assets Trend (2020–2024)
This chart illustrates how MIAPF's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for MIAPF (2020–2024)
The table below shows the annual net assets of MIAPF from 2020 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $1.12 Billion | +3.56% |
| 2023-12-31 | $1.08 Billion | -11.22% |
| 2022-12-31 | $1.21 Billion | +20.15% |
| 2021-12-31 | $1.01 Billion | +18.79% |
| 2020-12-31 | $850.22 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to MIAPF's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 51676900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $516.77 Million | 46.32% |
| Other Components | $598.98 Million | 53.68% |
| Total Equity | $1.12 Billion | 100.00% |
MIAPF Competitors by Market Cap
The table below lists competitors of MIAPF ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Zhejiang Truelove Vogue Co Ltd
SHE:003041
|
$307.74 Million |
|
Zinzino AB (publ)
PINK:ZNZNF
|
$307.83 Million |
|
Prism Johnson Limited
NSE:PRSMJOHNSN
|
$307.90 Million |
|
Cashway Technology Co Ltd
SHG:603106
|
$307.91 Million |
|
Pexip Holding ASA
PINK:PXPHF
|
$307.43 Million |
|
Jiangsu Tongli Risheng Machinery Co. Ltd.
SHG:605286
|
$307.28 Million |
|
Zhejiang Shouxiangu Pharm Co
SHG:603896
|
$307.16 Million |
|
BFI Finance Indonesia Tbk
JK:BFIN
|
$307.12 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MIAPF's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 1,077,381,000 to 1,115,747,000, a change of 38,366,000 (3.6%).
- Net income of 63,238,000 contributed positively to equity growth.
- Dividend payments of 28,415,000 reduced retained earnings.
- Share repurchases of 4,742,000 reduced equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $63.24 Million | +5.67% |
| Dividends Paid | $28.41 Million | -2.55% |
| Share Repurchases | $4.74 Million | -0.43% |
| Other Changes | $8.29 Million | +0.74% |
| Total Change | $- | 3.56% |
Book Value vs Market Value Analysis
This analysis compares MIAPF's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.31x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $23.44 | $8.86 | x |
| 2021-12-31 | $25.21 | $8.86 | x |
| 2022-12-31 | $30.42 | $8.86 | x |
| 2023-12-31 | $27.00 | $8.86 | x |
| 2024-12-31 | $28.19 | $8.86 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MIAPF utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 5.67%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 40.26%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 2.37x
- Recent ROE (5.67%) is below the historical average (8.77%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | 21.13% | 143.79% | 0.06x | 2.59x | $94.62 Million |
| 2021 | 9.32% | 76.21% | 0.05x | 2.42x | $-6.84 Million |
| 2022 | 18.57% | 156.76% | 0.05x | 2.25x | $104.05 Million |
| 2023 | -10.83% | -73.87% | 0.06x | 2.51x | $-224.40 Million |
| 2024 | 5.67% | 40.26% | 0.06x | 2.37x | $-48.34 Million |
Industry Comparison
This section compares MIAPF's net assets metrics with peer companies in the REIT - Residential industry.
Industry Context
- Industry: REIT - Residential
- Average net assets among peers: $970,119,400
- Average return on equity (ROE) among peers: 60.53%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MIAPF (MIAPF) | $1.08 Billion | 21.13% | 1.40x | $307.49 Million |
| Apartment Investment and Management Co (AIV) | $596.03 Million | -0.99% | 3.08x | $554.15 Million |
| American Homes 4 Rent (AMH) | $4.17 Billion | -1.15% | 0.49x | $9.03 Billion |
| Altarea SCA (ATRRF) | $415.50 Million | 9.51% | 4.42x | $599.60 Million |
| AvalonBay Communities Inc (AVB) | $2.93 Billion | 14.07% | 1.45x | $22.00 Billion |
| Bluerock Homes Trust Inc. (BHM) | $568.89 Million | 0.01% | 0.70x | $25.85 Million |
| Boardwalk Real Estate Investment Trust (BOWFF) | $8.49 Million | 537.91% | 276.75x | $1.81 Billion |
| BRT Realty Trust (BRT) | $129.84 Million | -6.17% | 0.43x | $161.66 Million |
| BSR Real Estate Investment Trust (BSRTF) | $288.51 Million | 49.89% | 2.36x | $404.42 Million |
| Canadian Apartment Properties REIT (CDPYF) | $457.18 Million | 3.44% | 3.99x | $4.34 Billion |
| Clipper Realty Inc (CLPR) | $141.78 Million | -1.17% | 7.23x | $39.47 Million |