Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Stock Price Up 0.1% - What's Next?

Key Points

• Minto Apartment Real Estate Investment Trust saw a slight increase of 0.1% in its stock price, closing at C$13.82 after trading as high as C$13.99, amid a decline in volume compared to average daily trading.
• Research reports revealed a mix of ratings, with Desjardins downgrading the stock from "buy" to "hold," while Canaccord Genuity raised its target price, indicating analysts have varying outlooks on the stock's future.
• The company has a market cap of C$536.24 million, a P/E ratio of 8.41, and operates a portfolio of multi-residential properties in major Canadian cities.

Shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) rose 0.1% during trading on Monday . The company traded as high as C$13.99 and last traded at C$13.82. Approximately 62,583 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 154,279 shares. The stock had previously closed at C$13.81.

Analyst Upgrades and Downgrades

MI.UN has been the subject of a number of research reports. Desjardins downgraded Minto Apartment Real Estate Invt Trust from a "buy" rating to a "hold" rating and set a C$14.50 price objective for the company. in a research report on Friday, August 15th. Raymond James Financial reduced their price objective on Minto Apartment Real Estate Invt Trust from C$16.00 to C$14.75 and set a "market perform" rating for the company in a research report on Friday, August 15th. Scotiabank reduced their price objective 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 report on Friday, August 15th. Finally, Canaccord Genuity Group raised their target price on Minto Apartment Real Estate Invt Trust from C$15.50 to C$16.50 in a research report on Friday, August 1st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of C$15.72.

Minto Apartment Real Estate Invt Trust Trading Up 0.1%

The company has a 50-day simple moving average of C$13.85 and a 200-day simple moving average of C$13.65. The company has a debt-to-equity ratio of 101.09, a quick ratio of 0.04 and a current ratio of 1.11. The stock has a market cap of C$536.24 million, a P/E ratio of 8.41 and a beta of 1.15.

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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