Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Trading Down 0.8% - What's Next?

Key Points

• Minto Apartment Real Estate Investment Trust shares fell by 0.8% to C$13.58, with trading volume down 59% compared to the average daily volume.
• Analysts have mixed opinions, with Raymond James Financial lowering its target price from C$16.00 to C$14.75, while Canaccord Genuity raised theirs from C$15.50 to C$16.50.
• The stock has an average rating of "Hold" among analysts and a consensus target price of C$15.72.

Shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN - Get Free Report) were down 0.8% on Friday . The company traded as low as C$13.56 and last traded at C$13.58. Approximately 59,703 shares traded hands during trading, a decline of 59% from the average daily volume of 146,936 shares. The stock had previously closed at C$13.69.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MI.UN shares. Raymond James Financial dropped their target price on shares of Minto Apartment Real Estate Invt Trust from C$16.00 to C$14.75 and set a "market perform" rating on the stock in a research report on Friday, August 15th. Canaccord Genuity Group upped their price objective 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. Desjardins cut Minto Apartment Real Estate Invt Trust from a "buy" rating to a "hold" rating and set a C$14.50 target price on the stock. in a research report on Friday, August 15th. Finally, Scotiabank reduced their target price 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 report on Friday, August 15th. 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 stock has an average rating of "Hold" and a consensus target price of C$15.72.

Minto Apartment Real Estate Invt Trust Stock Down 0.8%

The firm has a market cap of C$526.93 million, a price-to-earnings ratio of 8.27 and a beta of 1.01. The firm's 50 day moving average price is C$13.63 and its two-hundred day moving average price is C$13.69. The company has a debt-to-equity ratio of 101.09, a current ratio of 1.11 and a quick ratio of 0.04.

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 and Calgary.

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