Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Trading Down 3.4%

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s stock price fell 3.4% during mid-day trading on Monday . The company traded as low as C$14.66 and last traded at C$14.70. 56,133 shares were traded during trading, a decline of 34% from the average session volume of 84,580 shares. The stock had previously closed at C$15.22.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MI.UN. CIBC increased their target price on Minto Apartment Real Estate Invt Trust from C$19.00 to C$21.00 and gave the company an “outperform” rating in a report on Friday, March 8th. Raymond James raised their price objective on Minto Apartment Real Estate Invt Trust from C$20.25 to C$21.25 and gave the company an “outperform” rating in a research report on Friday, March 8th. Royal Bank of Canada raised their price objective on Minto Apartment Real Estate Invt Trust from C$22.00 to C$22.50 and gave the company an “outperform” rating in a research report on Friday, March 8th. Laurentian increased their target price on Minto Apartment Real Estate Invt Trust from C$16.00 to C$18.00 in a research note on Monday, January 22nd. Finally, Cormark raised their price target on Minto Apartment Real Estate Invt Trust from C$18.50 to C$20.50 in a research note on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Minto Apartment Real Estate Invt Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$20.27.

Minto Apartment Real Estate Invt Trust Stock Performance

The firm’s 50 day moving average price is C$16.37 and its 200-day moving average price is C$15.49. The company has a debt-to-equity ratio of 107.96, a quick ratio of 0.04 and a current ratio of 1.16. The firm has a market capitalization of C$581.34 million, a PE ratio of -5.01 and a beta of 1.18.

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.