Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Given New C$23.50 Price Target at Royal Bank of Canada

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective upped by Royal Bank of Canada from C$21.50 to C$23.50 in a research report issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.30% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Industrial Alliance Securities upgraded Minto Apartment Real Estate Invt Trust from a “buy” rating to a “strong-buy” rating and raised their price objective for the stock from C$22.00 to C$25.00 in a research note on Wednesday. TD Securities lifted their price target on Minto Apartment Real Estate Invt Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James upgraded Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “strong-buy” rating in a research report on Monday, July 15th. CIBC raised their price objective on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.00 in a research report on Thursday, May 9th. Finally, National Bank Financial set a C$21.00 target price on Minto Apartment Real Estate Invt Trust and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Minto Apartment Real Estate Invt Trust presently has a consensus rating of “Buy” and an average price target of C$23.14.

TSE:MI.UN traded up C$0.32 during trading hours on Wednesday, hitting C$21.50. The stock had a trading volume of 67,333 shares. The company has a debt-to-equity ratio of 256.87, a quick ratio of 0.06 and a current ratio of 0.39. Minto Apartment Real Estate Invt Trust has a 1-year low of C$16.01 and a 1-year high of C$20.72. The firm has a 50 day simple moving average of C$19.65. The company has a market capitalization of $459.15 million and a P/E ratio of 4.72.

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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