The Globe and Mail reports in its Friday, Nov. 7, edition that RBC Capital analyst Jimmy Shan has reiterated his "outperform" recommendation for Minto Apartment REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shan gave his unit target a $1 trim to $16.50. Analysts on average target the units at $15.65. Mr. Shan says in a note: "Q3 operating metrics continue to point to decelerating growth. Candidly, there is not much growth to look forward to in next two years (we model 1-per-cent/2-per-cent FFO growth in 2026/2027). That is based on our less optimistic outlook on SP NOI growth of 2 per cent (vs. Minto's expectation of 3 to 4 per cent). All that said, it feels like valuation is near trough. Minto's implied cap rate of 5.8 per cent is not too far from its (urban-oriented) commercial peers, suggesting that the negative narrative on apartments may have overshot." The Globe reported on Nov. 15, 2024, that Mr. Shan was sticking with his "outperform" ranking for Minto Apartment. The units could then be had for $14.16. The Globe reported on Aug. 15, 2025, that Desjardins Securities analyst Kyle Stanley had downgraded Minto Apartment to "hold" from "buy." It was then worth $13.45.