Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target Cut to C$20.00

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its target price decreased by equities researchers at TD Securities from C$21.00 to C$20.00 in a research note issued on Wednesday, BayStreet.CA reports. TD Securities’ target price indicates a potential upside of 30.63% from the stock’s current price.

Several other brokerages have also recently weighed in on MI.UN. Canaccord Genuity Group boosted their target price on Minto Apartment Real Estate Invt Trust from C$18.50 to C$20.00 and gave the stock a “buy” rating in a report on Friday, March 8th. Scotiabank dropped their target price on Minto Apartment Real Estate Invt Trust from C$19.25 to C$18.75 and set a “sector perform” rating for the company in a report on Monday, March 25th. Desjardins lifted their price target on Minto Apartment Real Estate Invt Trust from C$19.50 to C$21.00 and gave the stock a “buy” rating in a report on Friday, March 8th. Laurentian upped their price objective on shares of Minto Apartment Real Estate Invt Trust from C$16.00 to C$18.00 in a report on Monday, January 22nd. Finally, BMO Capital Markets lifted their target price on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Monday, March 11th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Minto Apartment Real Estate Invt Trust currently has an average rating of “Moderate Buy” and a consensus target price of C$19.98.

Minto Apartment Real Estate Invt Trust Price Performance

Shares of TSE:MI.UN traded down C$0.21 during midday trading on Wednesday, hitting C$15.31. The company’s stock had a trading volume of 12,870 shares, compared to its average volume of 89,390. The company has a market cap of C$610.87 million, a P/E ratio of -5.24 and a beta of 1.18. Minto Apartment Real Estate Invt Trust has a 12-month low of C$12.81 and a 12-month high of C$17.89. The business’s 50 day simple moving average is C$16.19 and its 200 day simple moving average is C$15.55. The company has a debt-to-equity ratio of 107.96, a quick ratio of 0.04 and a current ratio of 1.16.

Minto Apartment Real Estate Invt Trust Company Profile

Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Ottawa, Calgary and Edmonton.