Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Stock Rating Lowered by Royal Bank Of Canada

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) was downgraded by research analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$18.00 target price on the stock, up from their prior target price of C$16.50. Royal Bank Of Canada’s price target indicates a potential upside of 2.51% from the company’s previous close.

A number of other brokerages also recently commented on MI.UN. Canaccord Genuity Group downgraded shares of Minto Apartment Real Estate Invt Trust from a “buy” rating to a “hold” rating and upped their target price for the stock from C$15.50 to C$18.00 in a research note on Tuesday, January 6th. National Bank Financial increased their price objective on Minto Apartment Real Estate Invt Trust from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 6th. Scotiabank raised their price objective on Minto Apartment Real Estate Invt Trust from C$14.75 to C$18.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 6th. TD Securities lowered their target price on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating for the company in a report on Friday, December 12th. Finally, Canadian Imperial Bank of Commerce downgraded Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and increased their price target for the stock from C$17.00 to C$18.00 in a research report on Tuesday, January 6th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$17.11.

Minto Apartment Real Estate Invt Trust Stock Performance

Shares of Minto Apartment Real Estate Invt Trust stock opened at C$17.56 on Tuesday. Minto Apartment Real Estate Invt Trust has a 52 week low of C$11.94 and a 52 week high of C$17.69. The company has a market capitalization of C$643.28 million, a PE ratio of 9.40 and a beta of 0.96. The stock’s fifty day moving average is C$15.68 and its two-hundred day moving average is C$14.34. 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.