Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Sets New 1-Year High - What's Next?

Key Points

• 52-week high: Minto Apartment REIT reached a new 52-week high of C$17.69 on Thursday with about 104,714 shares traded.
• Analyst view: The consensus is a Hold rating with an average price target of C$17.38; several firms raised targets to C$18 while some downgraded ratings from Buy/Outperform to Hold/Neutral.
• Financials: Market cap ~C$647.3M, last quarter EPS C($6.24) and a negative net margin, plus high leverage (debt-to-equity ~101%), signaling weak recent profitability despite the share-price gain.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as C$17.69 and last traded at C$17.69, with a volume of 104714 shares traded. The stock had previously closed at C$17.64.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MI.UN. TD Securities decreased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a "buy" rating for the company in a report on Friday, December 12th. Scotiabank lifted their price objective 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 report on Tuesday, January 6th. Raymond James Financial lifted their price objective 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 report on Tuesday, January 6th. Canadian Imperial Bank of Commerce downgraded shares of Minto Apartment Real Estate Invt Trust from an "outperform" rating to a "neutral" rating and lifted their price objective for the stock from C$17.00 to C$18.00 in a report on Tuesday, January 6th. Finally, Canaccord Genuity Group downgraded shares of Minto Apartment Real Estate Invt Trust from a "buy" rating to a "hold" rating and lifted their price objective for the stock from C$15.50 to C$18.00 in a report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$17.38.

Minto Apartment Real Estate Invt Trust Trading Up 0.2%

The company has a market cap of C$647.31 million, a price-to-earnings ratio of -2.65 and a beta of 0.47. The company has a debt-to-equity ratio of 101.09, a current ratio of 1.11 and a quick ratio of 0.04. The firm's fifty day moving average price is C$17.52 and its 200-day moving average price is C$15.42.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C($6.24) earnings per share (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 firm had revenue of C$38.92 million for the quarter. On average, equities analysts expect that Minto Apartment Real Estate Invt Trust will post 1.0174984 EPS for the current fiscal year.

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, Calgary and Vancouver.

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