Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Shares Down 0.5%

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s stock price was down 0.5% during trading on Monday . The stock traded as low as C$14.77 and last traded at C$14.78. Approximately 32,627 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 83,715 shares. The stock had previously closed at C$14.85.

Analysts Set New Price Targets

MI.UN has been the topic of a number of research analyst reports. Raymond James lowered their price objective on shares of Minto Apartment Real Estate Invt Trust from C$21.25 to C$20.25 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Royal Bank of Canada raised their price objective on shares of Minto Apartment Real Estate Invt Trust from C$22.00 to C$22.50 and gave the company an “outperform” rating in a research note on Friday, March 8th. TD Securities raised their price objective on shares of Minto Apartment Real Estate Invt Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Scotiabank lowered their price objective on shares of Minto Apartment Real Estate Invt Trust from C$19.25 to C$18.75 and set a “sector perform” rating on the stock in a research note on Monday, March 25th. Finally, BMO Capital Markets raised 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 report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$20.07.

Minto Apartment Real Estate Invt Trust Stock Down 0.5 %

The company has a current ratio of 3.97, a quick ratio of 0.04 and a debt-to-equity ratio of 101.24. The firm has a market cap of C$589.87 million, a P/E ratio of -5.30 and a beta of 1.17. The business’s fifty day moving average price is C$14.98 and its two-hundred day moving average price is C$15.82.

About Minto Apartment Real Estate Invt Trust

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.