Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target Cut to C$21.50 by Analysts at Royal Bank of Canada

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective cut by equities researchers at Royal Bank of Canada from C$22.00 to C$21.50 in a report released on Thursday, BayStreet.CA reports. Royal Bank of Canada’s price target suggests a potential upside of 36.94% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. TD Securities raised their target price on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.00 in a report on Thursday. National Bankshares cut 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. Finally, Raymond James lowered their target price on Minto Apartment Real Estate Invt Trust from C$21.25 to C$20.25 and set an “outperform” rating for the company in a report on Wednesday, April 24th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$20.02.

Minto Apartment Real Estate Invt Trust Price Performance

MI.UN traded up C$0.10 on Thursday, hitting C$15.70. 25,946 shares of the stock were exchanged, compared to its average volume of 83,070. The firm has a market capitalization of C$626.59 million, a price-to-earnings ratio of -5.63 and a beta of 1.22. The company has a debt-to-equity ratio of 101.78, a current ratio of 1.52 and a quick ratio of 0.04. Minto Apartment Real Estate Invt Trust has a 12 month low of C$12.81 and a 12 month high of C$17.89. The business has a 50-day moving average of C$15.39 and a two-hundred day moving average of C$15.70.

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.