Royal Bank of Canada 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 cut by stock analysts at Royal Bank of Canada from C$20.50 to C$19.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 49.31% from the company’s current price.

Other research analysts also recently issued reports about the company. BMO Capital Markets reduced their price objective on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a research note on Thursday. CIBC reduced their price objective on Minto Apartment Real Estate Invt Trust from C$21.00 to C$20.00 in a research note on Thursday, November 14th. Raymond James reduced their price objective on Minto Apartment Real Estate Invt Trust from C$19.00 to C$17.25 in a research note on Monday, January 13th. Scotiabank reduced their price objective on Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a research note on Thursday, November 14th. Finally, National Bankshares dropped their target price on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.75 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Minto Apartment Real Estate Invt Trust has an average rating of “Moderate Buy” and an average target price of C$17.75.

Minto Apartment Real Estate Invt Trust Stock Up 0.4 %

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