Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Receives Average Recommendation of “Hold” from Brokerages

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) has received an average rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$17.38.

MI.UN has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce downgraded Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$17.00 to C$18.00 in a research note on Tuesday, January 6th. National Bank Financial raised their target price 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 report on Tuesday, January 6th. Royal Bank Of Canada lowered Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$16.50 to C$18.00 in a research note on Tuesday, February 10th. Canaccord Genuity Group cut Minto Apartment Real Estate Invt Trust from a “buy” rating to a “hold” rating and upped their price target for the company from C$15.50 to C$18.00 in a research report on Tuesday, January 6th. Finally, Scotiabank increased their price target 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 research note on Tuesday, January 6th.

Minto Apartment Real Estate Invt Trust Stock Performance

Shares of MI.UN stock opened at C$17.41 on Friday. The company has a debt-to-equity ratio of 101.09, a quick ratio of 0.04 and a current ratio of 1.11. The firm has a market cap of C$637.78 million, a price-to-earnings ratio of -2.61 and a beta of 0.58. 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 firm’s 50-day simple moving average is C$17.51 and its two-hundred day simple moving average is C$15.08.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) last released its earnings results on Wednesday, March 4th. The company reported C($6.24) earnings per share for the quarter. Minto Apartment Real Estate Invt Trust had a negative net margin of 22.43% and a negative return on equity of 3.19%. The company had revenue of C$38.92 million for the quarter. As a group, equities analysts forecast that Minto Apartment Real Estate Invt Trust will post 1.0174984 earnings per share for the current year.

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.