Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target Cut to C$15.25 by Analysts at Scotiabank

Key Points

• Scotiabank has cut its price target for Minto Apartment Real Estate Investment Trust from C$15.50 to C$15.25, maintaining a "sector perform" rating on the stock.
• Multiple analysts have downgraded Minto Apartment REIT's ratings, with notable reductions from Raymond James and National Bankshares, reflecting a consensus rating of "Hold".
• The stock is currently trading at C$13.44, showing potential for a 13.47% upside based on Scotiabank's revised price target.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) had its target price reduced by analysts at Scotiabank from C$15.50 to C$15.25 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's price target would suggest a potential upside of 13.47% from the company's previous close.

Several other research firms have also weighed in on MI.UN. Raymond James Financial lowered Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from C$15.75 to C$15.00 in a research note on Thursday, May 8th. Royal Bank Of Canada cut their price target on 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 note on Thursday, May 8th. National Bankshares lowered Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "sector perform" rating and cut their price target for the company from C$15.00 to C$14.00 in a research note on Thursday, May 8th. TD Securities cut their price target 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. Finally, Canaccord Genuity Group lifted their price target on Minto Apartment Real Estate Invt Trust from C$15.50 to C$16.50 in a research note on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$15.72.

Minto Apartment Real Estate Invt Trust Price Performance

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

Minto Apartment Real Estate Invt Trust Company Profile

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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