Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Reaches New 52-Week Low After Analyst Downgrade

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s share price hit a new 52-week low during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from C$17.50 to C$16.50. Scotiabank currently has a sector perform rating on the stock. Minto Apartment Real Estate Invt Trust traded as low as C$12.63 and last traded at C$12.97, with a volume of 50488 shares. The stock had previously closed at C$13.56.

A number of other research analysts have also weighed in on the company. BMO Capital Markets dropped their price objective on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a report on Thursday. Royal Bank of Canada cut their price target on shares of Minto Apartment Real Estate Invt Trust from C$20.50 to C$19.50 and set an “outperform” rating for the company in a report on Friday. CIBC decreased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a report on Friday. Raymond James lowered their target price on shares of Minto Apartment Real Estate Invt Trust from C$17.25 to C$16.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, National Bankshares reduced their price target on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.75 and set an “outperform” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$17.98.

Minto Apartment Real Estate Invt Trust Stock Up 0.4 %

The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09. The firm has a market capitalization of C$521.36 million, a price-to-earnings ratio of -14.67 and a beta of 1.23. The stock has a 50 day moving average of C$13.18 and a 200 day moving average of C$14.52.

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.