Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Shares Down 1.1%

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s share price was down 1.1% during trading on Wednesday . The stock traded as low as C$15.84 and last traded at C$15.92. Approximately 245,803 shares traded hands during trading, an increase of 189% from the average daily volume of 84,927 shares. The stock had previously closed at C$16.10.

Analysts Set New Price Targets

MI.UN has been the topic of several research analyst reports. Raymond James dropped their price objective on Minto Apartment Real Estate Invt Trust from C$21.25 to C$20.25 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. TD Securities raised their price objective on Minto Apartment Real Estate Invt Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, National Bankshares dropped their price objective on Minto Apartment Real Estate Invt Trust from C$20.00 to C$18.75 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Minto Apartment Real Estate Invt Trust currently has an average rating of “Moderate Buy” and an average price target of C$20.07.

Minto Apartment Real Estate Invt Trust Price Performance

The company has a debt-to-equity ratio of 101.24, a current ratio of 3.97 and a quick ratio of 0.04. The stock has a 50 day moving average price of C$15.17 and a two-hundred day moving average price of C$15.76. The firm has a market capitalization of C$634.57 million, a price-to-earnings ratio of -5.70 and a beta of 1.17.

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, Ottawa, Calgary and Edmonton.