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

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 note issued to investors on Friday,BayStreet.CA reports. They currently have a C$14.50 price objective on the stock. Desjardins' price target would suggest a potential upside of 7.89% from the stock's current price.

Several other analysts have also recently issued reports on the company. TD Securities reduced their price objective on Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set a "buy" rating on the stock 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 cut their price target for the stock from C$15.75 to C$15.00 in a report on Thursday, May 8th. Scotiabank dropped their price objective on 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 report on Friday. CIBC dropped their price objective on Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Finally, National Bankshares lowered Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from C$15.00 to C$14.00 in a report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Minto Apartment Real Estate Invt Trust presently has an average rating of "Hold" and a consensus price target of C$15.72.

Minto Apartment Real Estate Invt Trust Trading Down 1.4%

TSE:MI.UN traded down C$0.19 during trading hours on Friday, reaching C$13.44. 197,861 shares of the stock were exchanged, compared to its average volume of 160,494. The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09. The business has a 50-day moving average of C$14.29 and a two-hundred day moving average of C$13.56. Minto Apartment Real Estate Invt Trust has a twelve month low of C$11.94 and a twelve month high of C$17.34. The company has a market capitalization of C$536.52 million, a price-to-earnings ratio of -15.10 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.

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