Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target Cut to C$14.75 by Analysts at Raymond James Financial

Key Points

• Raymond James Financial has lowered the price target for Minto Apartment Real Estate Investment Trust from C$16.00 to C$14.75, maintaining a "market perform" rating, which indicates a potential upside of 9.75% from the current price.
• Other brokerages have also adjusted their target prices, with Scotiabank reducing it to C$15.25 and Canaccord Genuity increasing it to C$16.50, reflecting mixed analyst sentiment.
• Minto Apartment Real Estate Investment Trust is currently trading at C$13.44, with a market capitalization of C$536.52 million and a debt-to-equity ratio of 101.09.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) had its target price lowered by stock analysts at Raymond James Financial from C$16.00 to C$14.75 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 9.75% from the company's current price.

Several other brokerages have also issued reports on MI.UN. Scotiabank cut their target price on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.25 and set a "sector perform" rating for the company in a research note on Friday. Canaccord Genuity Group increased their price objective on Minto Apartment Real Estate Invt Trust from C$15.50 to C$16.50 in a research note on Friday, August 1st. Royal Bank Of Canada lowered 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 for the company in a report on Thursday, May 8th. Desjardins cut shares of Minto Apartment Real Estate Invt Trust from a "buy" rating to a "hold" rating and set a C$14.50 price target for the company. in a research report on Friday. Finally, TD Securities dropped their price target on shares of 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Minto Apartment Real Estate Invt Trust currently has an average rating of "Hold" and an average price target of C$15.72.

Minto Apartment Real Estate Invt Trust Price Performance

MI.UN traded down C$0.19 during midday trading on Friday, hitting C$13.44. The stock had a trading volume of 197,861 shares, compared to its average volume of 160,494. The company has a market cap of C$536.52 million, a P/E ratio of -15.10 and a beta of 1.23. The business has a fifty day moving average of C$14.29 and a 200 day moving average of C$13.56. The company has a debt-to-equity ratio of 101.09, a quick ratio of 0.04 and a current ratio of 1.11. Minto Apartment Real Estate Invt Trust has a 1 year low of C$11.94 and a 1 year high of C$17.34.

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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