CIBC Issues Pessimistic Forecast for Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Stock Price

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price target lowered by CIBC from C$20.00 to C$18.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 37.83% from the stock’s current price.

Several other equities analysts have also weighed in on MI.UN. Scotiabank cut their target price on Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a report on Thursday, November 14th. Raymond James cut their target price on Minto Apartment Real Estate Invt Trust from C$17.25 to C$16.00 and set an “outperform” rating on the stock in a report on Friday. Desjardins cut their target price on 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. BMO Capital Markets cut their target price on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a report on Thursday. Finally, National Bankshares cut their target price on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.75 and set an “outperform” rating on the stock in a report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$17.75.

Minto Apartment Real Estate Invt Trust Price Performance

Shares of TSE:MI.UN opened at C$13.06 on Friday. Minto Apartment Real Estate Invt Trust has a 1 year low of C$12.63 and a 1 year high of C$17.37. The business has a fifty day simple moving average of C$13.17 and a 200 day simple moving average of C$14.51. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09. The firm has a market cap of C$521.36 million, a price-to-earnings ratio of -14.67 and a beta of 1.23.

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.