Scotiabank 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 Scotiabank from C$18.75 to C$17.75 in a research note issued to investors on Thursday,BayStreet.CA reports. Scotiabank’s target price points to a potential upside of 25.44% from the company’s previous close.

A number of other equities research analysts have also issued reports on MI.UN. Raymond James cut their price target on Minto Apartment Real Estate Invt Trust from C$20.25 to C$19.75 in a research note on Thursday, August 15th. National Bankshares lifted their target price on Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.75 in a report on Wednesday, October 9th. Royal Bank of Canada reduced their price objective on shares of Minto Apartment Real Estate Invt Trust from C$22.00 to C$21.50 in a research report on Thursday, August 15th. BMO Capital Markets lowered their price objective on shares of Minto Apartment Real Estate Invt Trust from C$19.00 to C$18.50 in a research report on Monday, October 28th. Finally, TD Securities lifted their price objective on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.00 in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$19.68.

Minto Apartment Real Estate Invt Trust Price Performance

TSE MI.UN opened at C$14.15 on Thursday. The company has a market capitalization of C$564.87 million, a price-to-earnings ratio of -15.90 and a beta of 1.23. 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 stock has a 50-day moving average of C$15.65 and a 200 day moving average of C$15.51. Minto Apartment Real Estate Invt Trust has a one year low of C$13.69 and a one year high of C$17.89.

About Minto Apartment Real Estate Invt Trust

Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada. As of December 31, 2020, its portfolio consists of interests in 29 multi-residential rental properties, including three mixed-use residential apartment and commercial buildings in Toronto, Ottawa, Montréal, Calgary, and Edmonton.