CIBC Boosts Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target to C$23.00

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective upped by investment analysts at CIBC from C$22.00 to C$23.00 in a note issued to investors on Wednesday, BayStreet.CA reports. CIBC’s target price indicates a potential upside of 6.98% from the company’s current price.

Several other analysts have also commented on MI.UN. Industrial Alliance Securities upgraded shares of Minto Apartment Real Estate Invt Trust from a “buy” rating to a “strong-buy” rating and raised their price target for the company from C$22.00 to C$25.00 in a research report on Wednesday. Raymond James upgraded shares of Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “strong-buy” rating in a research report on Monday, July 15th. Royal Bank of Canada raised their price target on shares of Minto Apartment Real Estate Invt Trust from C$21.50 to C$23.50 and gave the company an “outperform” rating in a research report on Wednesday. TD Securities increased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$24.00 to C$25.00 and gave the company a “buy” rating in a report on Wednesday. Finally, National Bank Financial set a C$21.00 price objective on shares of Minto Apartment Real Estate Invt Trust and gave the company a “sector perform” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$23.14.

MI.UN stock traded up C$0.32 during midday trading on Wednesday, hitting C$21.50. 67,333 shares of the stock traded hands. The firm has a market capitalization of $459.15 million and a price-to-earnings ratio of 4.72. The company has a debt-to-equity ratio of 256.87, a quick ratio of 0.06 and a current ratio of 0.39. The company’s fifty day moving average is C$19.65. Minto Apartment Real Estate Invt Trust has a 1-year low of C$16.01 and a 1-year high of C$20.72.

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, Ottawa, Calgary and Edmonton.

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