Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Shares Up 1% – Time to Buy?

Shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN) rose 1% on Monday . The stock traded as high as C$14.52 and last traded at C$14.46. Approximately 114,754 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 173,456 shares. The stock had previously closed at C$14.31.

Wall Street Analysts Forecast Growth

MI.UN has been the topic of a number of research reports. Scotiabank lowered their price target on Minto Apartment Real Estate Invt Trust from C$16.50 to C$15.50 and set a “sector perform” rating on the stock in a research report on Thursday, May 8th. Royal Bank of Canada cut their target price on Minto Apartment Real Estate Invt Trust from C$19.50 to C$17.50 and set an “outperform” rating for the company in a research note on Thursday, May 8th. BMO Capital Markets reduced their price target on shares of Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a research report on Thursday, March 6th. CIBC lowered their price objective on shares of Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Raymond James lowered shares of Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$15.75 to C$15.00 in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Minto Apartment Real Estate Invt Trust presently has an average rating of “Moderate Buy” and an average price target of C$15.81.

Minto Apartment Real Estate Invt Trust Price Performance

The firm has a fifty day moving average price of C$13.35 and a two-hundred day moving average price of C$13.31. 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 stock has a market capitalization of C$577.24 million, a P/E ratio of -16.25 and a beta of 1.23.

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, Montreal, Ottawa and Calgary.