Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Reaches New 12-Month High - What's Next?

Key Points

• Minto Apartment REIT (TSE:MI.UN) hit a new 52-week high, trading as high as C$17.72 (last C$17.67) on volume of 31,889, and its 50‑day moving average (C$17.54) sits above the 200‑day (C$15.55), indicating recent upward momentum.
• Several analysts raised price targets to C$18.00 even as multiple firms downgraded ratings, leaving a consensus Hold rating and an average price target of C$17.38.
• Underlying fundamentals are weak: the REIT reported C($6.24) EPS for the quarter, a negative net margin (-22.43%), and a high debt‑to‑equity ratio (101.09).

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.72 and last traded at C$17.67, with a volume of 31889 shares traded. The stock had previously closed at C$17.70.

Analysts Set New Price Targets

Several research firms have issued reports on MI.UN. Raymond James Financial upped their price target on shares of Minto Apartment Real Estate Invt Trust from C$14.25 to C$18.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 6th. Canadian Imperial Bank of Commerce lowered shares of Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "neutral" rating and upped their price target for the stock from C$17.00 to C$18.00 in a research report on Tuesday, January 6th. Scotiabank upped their price target on shares of Minto Apartment Real Estate Invt Trust from C$14.75 to C$18.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 6th. Royal Bank Of Canada lowered shares of Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from C$16.50 to C$18.00 in a research report on Tuesday, February 10th. Finally, Canaccord Genuity Group lowered shares of Minto Apartment Real Estate Invt Trust from a "buy" rating to a "hold" rating and upped their price target for the stock from C$15.50 to C$18.00 in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Minto Apartment Real Estate Invt Trust currently has an average rating of "Hold" and a consensus price target of C$17.38.

Minto Apartment Real Estate Invt Trust Price Performance

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 company's 50 day moving average is C$17.54 and its 200 day moving average is C$15.55. The firm has a market capitalization of C$647.31 million, a price-to-earnings ratio of -2.65 and a beta of 0.47.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported C($6.24) EPS for the quarter. Minto Apartment Real Estate Invt Trust had a negative net margin of 22.43% and a negative return on equity of 3.19%. The business had revenue of C$38.92 million during the quarter. On average, equities research analysts anticipate that Minto Apartment Real Estate Invt Trust will post 1.0174984 earnings per share for the current fiscal year.

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, Calgary and Vancouver.

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