Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Trading 0.1% Higher – Here’s Why

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) rose 0.1% on Tuesday . The company traded as high as C$17.52 and last traded at C$17.49. Approximately 304,961 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 438,868 shares. The stock had previously closed at C$17.48.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. CIBC cut Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from C$17.00 to C$18.00 in a research report on Tuesday, January 6th. National Bankshares boosted their price target on shares of Minto Apartment Real Estate Invt Trust from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 6th. TD Securities reduced their price objective on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating for the company in a research report on Friday, December 12th. Canaccord Genuity Group lowered shares of Minto Apartment Real Estate Invt Trust from a “buy” rating to a “hold” rating and lifted their target price for the company from C$15.50 to C$18.00 in a research report on Tuesday, January 6th. Finally, Scotiabank upped their price target on shares of Minto Apartment Real Estate Invt Trust from C$14.75 to C$18.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$17.06.

Minto Apartment Real Estate Invt Trust Stock Performance

The stock has a 50-day moving average of C$14.80 and a 200 day moving average of C$14.12. The stock has a market cap of C$678.65 million, a PE ratio of 9.36 and a beta of 1.00. The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09.

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, Calgary and Vancouver.