Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its target price lifted by equities researchers at 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 target would suggest a potential upside of 9.30% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. CIBC upped their price target on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.00 in a research note on Thursday, May 9th. 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 research note on Tuesday, April 16th. BMO Capital Markets cut their target price on Minto Apartment Real Estate Invt Trust from C$22.75 to C$22.50 in a research note on Monday, April 22nd. TD Securities increased their target price 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. Finally, Raymond James raised Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “strong-buy” rating in a research note on Monday, July 15th. One investment 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 stock. 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. The stock had a trading volume of 67,333 shares. The stock has a market cap of $459.15 million and a price-to-earnings ratio of 4.72. The stock’s 50-day moving average price is C$19.65. Minto Apartment Real Estate Invt Trust has a 52-week low of C$16.01 and a 52-week high of C$20.72. The company has a current ratio of 0.39, a quick ratio of 0.06 and a debt-to-equity ratio of 256.87.
Minto Apartment Real Estate Invt Trust Company Profile
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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