Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Cut to “Hold” at Canaccord Genuity Group

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) was downgraded by Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$18.00 price objective on the stock, up from their previous price objective of C$15.50. Canaccord Genuity Group’s price objective indicates a potential upside of 3.51% from the company’s current price.

MI.UN has been the topic of several other research reports. Scotiabank upped their price target on Minto Apartment Real Estate Invt Trust from C$14.75 to C$18.00 and gave the company a “sector perform” rating in a report on Tuesday. TD Securities reduced their price target on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating for the company in a research report on Friday, December 12th. Raymond James Financial raised their target price on Minto Apartment Real Estate Invt Trust from C$14.25 to C$18.00 and gave the company a “market perform” rating in a report on Tuesday. CIBC downgraded Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from C$17.00 to C$18.00 in a research report on Tuesday. Finally, National Bankshares increased their target price on Minto Apartment Real Estate Invt Trust from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Minto Apartment Real Estate Invt Trust currently has a consensus rating of “Hold” and a consensus price target of C$17.06.

Minto Apartment Real Estate Invt Trust Stock Performance

TSE MI.UN traded up C$0.09 during trading hours on Tuesday, reaching C$17.39. The company’s stock had a trading volume of 539,888 shares, compared to its average volume of 1,300,804. The business has a 50-day simple moving average of C$13.50 and a 200 day simple moving average of C$13.76. The stock has a market cap of C$637.05 million, a PE ratio of 9.30 and a beta of 1.00. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09. Minto Apartment Real Estate Invt Trust has a 52 week low of C$11.94 and a 52 week high of C$17.39.

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, Montreal, Ottawa, Calgary and Vancouver.