Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Hits New 12-Month High at $24.04

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$24.04 and last traded at C$24.00, with a volume of 3189 shares traded. The stock had previously closed at C$23.88.

Several equities research analysts have issued reports on MI.UN shares. National Bank Financial restated a “sector perform” rating and set a C$24.50 target price on shares of Minto Apartment Real Estate Invt Trust in a research report on Wednesday, October 23rd. CIBC increased their price objective on Minto Apartment Real Estate Invt Trust from C$23.00 to C$24.50 in a research report on Wednesday, October 23rd. Royal Bank of Canada increased their price objective on Minto Apartment Real Estate Invt Trust from C$24.00 to C$25.50 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Raymond James reissued an “outperform” rating and issued a C$25.00 target price on shares of Minto Apartment Real Estate Invt Trust in a research note on Thursday, November 14th. Finally, TD Securities increased their target price on Minto Apartment Real Estate Invt Trust from C$26.00 to C$27.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$25.00.

The stock has a 50 day moving average price of C$22.98 and a 200-day moving average price of C$22.04. The stock has a market capitalization of $872.41 million and a P/E ratio of 5.28. The company has a debt-to-equity ratio of 169.68, a current ratio of 0.39 and a quick ratio of 0.06.

About Minto Apartment Real Estate Invt Trust (TSE:MI.UN)

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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