Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Given New C$16.50 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group raised its target price for Minto Apartment Real Estate Investment Trust from C$15.50 to C$16.50, indicating a potential upside of 19.65% from the current price.
• Other analysts, including CIBC and National Bankshares, have lowered their target prices for the trust, reflecting varying levels of confidence in its performance.
• The stock is currently down 1.5%, trading at C$13.79, with analysts providing an average rating of "Moderate Buy" and a target price of C$15.89.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Free Report) had its price objective raised by Canaccord Genuity Group from C$15.50 to C$16.50 in a research note published on Friday morning,BayStreet.CA reports.

MI.UN has been the subject of several other reports. Scotiabank dropped their price objective on shares of Minto Apartment Real Estate Invt Trust from C$16.50 to C$15.50 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Raymond James Financial downgraded Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from C$15.75 to C$15.00 in a research report on Thursday, May 8th. TD Securities decreased their target price on Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. CIBC decreased their target price on Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada decreased their target price on Minto Apartment Real Estate Invt Trust from C$19.50 to C$17.50 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$15.89.

Minto Apartment Real Estate Invt Trust Price Performance

Shares of MI.UN stock traded up C$0.22 on Friday, reaching C$13.92. The company's stock had a trading volume of 24,112 shares, compared to its average volume of 161,671. The stock's fifty day simple moving average is C$14.38 and its 200-day simple moving average is C$13.53. Minto Apartment Real Estate Invt Trust has a 1 year low of C$11.94 and a 1 year high of C$17.34. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09. The company has a market capitalization of C$555.69 million, a price-to-earnings ratio of -15.64 and a beta of 1.23.

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, Montreal, Ottawa and Calgary.