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 changed 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.

Analyst Ratings Changes

A number of research firms have issued reports on MI.UN. Desjardins lifted their target price on Minto Apartment Real Estate Invt Trust from C$19.50 to C$21.00 and gave the company a “buy” rating in a research report on Friday, March 8th. Canaccord Genuity Group upped their price objective on shares of Minto Apartment Real Estate Invt Trust from C$18.50 to C$20.00 and gave the stock a “buy” rating in a research report on Friday, March 8th. Raymond James cut their target price 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 report on Wednesday, April 24th. CIBC upped their price target on shares of Minto Apartment Real Estate Invt Trust from C$19.00 to C$21.00 and gave the stock an “outperform” rating in a report on Friday, March 8th. Finally, Cormark boosted their price target on Minto Apartment Real Estate Invt Trust from C$18.50 to C$20.50 in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$20.07.

Minto Apartment Real Estate Invt Trust Price Performance

The company has a quick ratio of 0.04, a current ratio of 3.97 and a debt-to-equity ratio of 101.24. The business’s 50 day simple moving average is C$14.97 and its two-hundred day simple moving average is C$15.81. The stock has a market capitalization of C$612.62 million, a P/E ratio of -5.40 and a beta of 1.17.

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.