Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Cut to Hold at Desjardins

Key Points

• Desjardins downgraded Minto Apartment Real Estate Investment Trust from a "buy" to a "hold" rating, setting a price objective of C$14.50, indicating a potential upside of 7.89% from its current price.
• Other analysts, including TD Securities and Raymond James, have also lowered their ratings and price targets for Minto, suggesting a more cautious outlook on the stock.
• The stock recently traded down 1.4% to C$13.44, with its market capitalization at C$536.52 million and a 12-month price range between C$11.94 and C$17.34.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) was downgraded by equities researchers at Desjardins from a "buy" rating to a "hold" rating in a research note issued on Friday,BayStreet.CA reports. They presently have a C$14.50 price objective on the stock. Desjardins' target price points to a potential upside of 8.21% from the company's current price.

MI.UN has been the topic of several other research reports. National Bankshares cut shares of Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from C$15.00 to C$14.00 in a research report on Thursday, May 8th. Scotiabank reduced their price target on shares of Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.25 and set a "sector perform" rating on the stock in a research report on Friday, August 15th. CIBC reduced their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada reduced their price target on shares of Minto Apartment Real Estate Invt Trust from C$19.50 to C$17.50 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Finally, Raymond James Financial cut shares of Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from C$15.75 to C$15.00 in a research report on Thursday, May 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$15.72.

Minto Apartment Real Estate Invt Trust Stock Up 0.2%

Shares of MI.UN traded up C$0.03 during mid-day trading on Friday, hitting C$13.40. 91,698 shares of the company's stock were exchanged, compared to its average volume of 159,965. The company has a market cap of C$534.93 million, a price-to-earnings ratio of -15.06 and a beta of 1.23. Minto Apartment Real Estate Invt Trust has a fifty-two week low of C$11.94 and a fifty-two week high of C$17.34. The company has a debt-to-equity ratio of 101.09, a quick ratio of 0.04 and a current ratio of 1.11. The stock's 50-day moving average is C$14.20 and its 200-day moving average is C$13.57.

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.