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

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 - Free Report) had its price target cut by Scotiabank from C$15.50 to C$15.25 in a research note released on Friday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Several other equities research analysts have also commented on MI.UN. Raymond James Financial lowered shares of 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. National Bankshares lowered shares of Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from C$15.00 to C$14.00 in a report on Thursday, May 8th. Canaccord Genuity Group upped their target price on shares of Minto Apartment Real Estate Invt Trust from C$15.50 to C$16.50 in a report on Friday, August 1st. CIBC dropped their target price on shares of Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, Royal Bank Of Canada dropped their target price 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. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of C$15.72.

Minto Apartment Real Estate Invt Trust Price Performance

TSE MI.UN traded up C$0.03 on Friday, hitting C$13.40. The company had a trading volume of 91,698 shares, compared to its average volume of 159,965. The company has a market capitalization of C$534.93 million, a PE ratio of -15.06 and a beta of 1.23. The company's fifty day moving average price is C$14.20 and its 200-day moving average price is C$13.57. 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 12-month low of C$11.94 and a 12-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.