Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Rating Lowered to Hold at Desjardins

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) was downgraded by analysts at Desjardins from a “buy” rating to a “hold” rating in a report issued on Friday,BayStreet.CA reports. They presently have a C$14.50 target price on the stock. Desjardins’ price target points to a potential upside of 7.81% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. TD Securities lowered their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. CIBC lowered their target price on 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. Raymond James Financial lowered Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$15.75 to C$15.00 in a research report on Thursday, May 8th. Royal Bank Of Canada dropped their price objective on Minto Apartment Real Estate Invt Trust from C$19.50 to C$17.50 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group boosted their target price on shares of Minto Apartment Real Estate Invt Trust from C$15.50 to C$16.50 in a report on Friday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$15.72.

Minto Apartment Real Estate Invt Trust Price Performance

MI.UN opened at C$13.45 on Friday. The company has a market capitalization of C$536.92 million, a price-to-earnings ratio of -15.11 and a beta of 1.23. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09. Minto Apartment Real Estate Invt Trust has a 12-month low of C$11.94 and a 12-month high of C$17.34. The business’s fifty day simple moving average is C$14.27 and its 200-day simple moving average is C$13.57.

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.