Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target Lowered to C$16.00 at Raymond James

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price target dropped by equities research analysts at Raymond James from C$17.25 to C$16.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 22.79% from the stock’s current price.

A number of other brokerages also recently commented on MI.UN. BMO Capital Markets lowered their price objective on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a research note on Thursday. Scotiabank lowered their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a research report on Thursday, November 14th. Desjardins decreased their target price on shares of Minto Apartment Real Estate Invt Trust from C$16.50 to C$15.50 and set a “buy” rating for the company in a research report on Friday. CIBC cut their price target on Minto Apartment Real Estate Invt Trust from C$21.00 to C$20.00 in a report on Thursday, November 14th. Finally, National Bankshares decreased their price objective on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.75 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$17.98.

Minto Apartment Real Estate Invt Trust Stock Performance

Shares of MI.UN traded up C$0.02 during mid-day trading on Friday, hitting C$13.03. The stock had a trading volume of 112,558 shares, compared to its average volume of 191,517. The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09. Minto Apartment Real Estate Invt Trust has a fifty-two week low of C$12.63 and a fifty-two week high of C$17.37. The company’s fifty day simple moving average is C$13.18 and its two-hundred day simple moving average is C$14.53. The company has a market cap of C$520.16 million, a PE ratio of -14.64 and a beta of 1.23.

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 and Calgary.