Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target Cut to C$23.00 by Analysts at Scotiabank

Minto Apartment Real Estate Invt Trust (TSE:MI.UNGet Rating) had its price target lowered by equities researchers at Scotiabank from C$24.50 to C$23.00 in a research report issued on Thursday, BayStreet.CA reports. Scotiabank’s target price suggests a potential upside of 25.68% from the stock’s current price.

MI.UN has been the topic of several other research reports. National Bank Financial reissued an “outperform” rating and set a C$26.25 target price on shares of Minto Apartment Real Estate Invt Trust in a research report on Monday, January 17th. BMO Capital Markets upped their price objective on Minto Apartment Real Estate Invt Trust from C$28.50 to C$29.00 in a research report on Thursday, March 10th. CIBC lowered their target price on Minto Apartment Real Estate Invt Trust from C$27.00 to C$26.50 in a report on Thursday, March 10th. Canaccord Genuity Group upped their target price on Minto Apartment Real Estate Invt Trust from C$26.50 to C$28.50 in a report on Thursday, March 10th. Finally, Raymond James set a C$28.00 price objective on Minto Apartment Real Estate Invt Trust and gave the stock a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$25.98.

Shares of TSE MI.UN traded down C$0.72 during trading hours on Thursday, hitting C$18.30. 135,048 shares of the company traded hands, compared to its average volume of 125,132. The stock has a market capitalization of C$733.28 million and a price-to-earnings ratio of 7.80. The company has a current ratio of 0.44, a quick ratio of 0.03 and a debt-to-equity ratio of 88.69. The company’s 50 day moving average price is C$20.80 and its 200 day moving average price is C$21.65. Minto Apartment Real Estate Invt Trust has a 12 month low of C$18.21 and a 12 month high of C$25.41.

About Minto Apartment Real Estate Invt Trust (Get Rating)

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.

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