Royal Bank of Canada Cuts Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target to C$17.50

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective cut by Royal Bank of Canada from C$19.50 to C$17.50 in a report published on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on MI.UN. Raymond James cut Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$15.75 to C$15.00 in a research note on Thursday. Desjardins lowered 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 on the stock in a report on Friday, March 7th. Scotiabank lowered their price target on shares of 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 note on Thursday. BMO Capital Markets lowered their price target on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a report on Thursday, March 6th. Finally, CIBC lowered their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.00 to C$17.00 and set an “outperform” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Minto Apartment Real Estate Invt Trust has an average rating of “Moderate Buy” and a consensus target price of C$15.81.

Minto Apartment Real Estate Invt Trust Stock Up 1.1 %

TSE:MI.UN opened at C$12.82 on Thursday. Minto Apartment Real Estate Invt Trust has a 52 week low of C$11.94 and a 52 week high of C$17.34. 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’s fifty day moving average is C$13.09 and its two-hundred day moving average is C$13.45. The stock has a market capitalization of C$511.77 million, a price-to-earnings ratio of -14.40 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.