Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Stock Price Up 0.2% - Should You Buy?

Key Points

• Minto Apartment Real Estate Investment Trust's stock price increased by 0.2%, trading last at C$13.56 with a market cap of C$541.32 million.
• Wall Street analysts have adjusted their price targets downward, with most recent estimates ranging from C$14.75 to C$17.50, while maintaining a consensus rating of "Hold".
• The company owns high-quality income-producing multi-residential properties in urban markets across Canada, including Toronto, Montreal, Ottawa, and Calgary.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) shares rose 0.2% during trading on Thursday . The company traded as high as C$13.59 and last traded at C$13.56. Approximately 106,591 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 158,451 shares. The stock had previously closed at C$13.53.

Wall Street Analysts Forecast Growth

MI.UN has been the topic of a number of analyst reports. Scotiabank cut their target price on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.25 and set a "sector perform" rating on the stock in a research note on Friday, August 15th. Canaccord Genuity Group boosted their target price on shares of Minto Apartment Real Estate Invt Trust from C$15.50 to C$16.50 in a research note on Friday, August 1st. 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. CIBC reduced 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 on the stock in a research report on Thursday, May 8th. Finally, TD Securities cut their target price 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. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$15.72.

Minto Apartment Real Estate Invt Trust Trading Up 0.1%

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 has a market capitalization of C$526.54 million, a PE ratio of 8.26 and a beta of 1.20. The firm's 50 day simple moving average is C$14.06 and its 200-day simple moving average is C$13.58.

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.