Scotiabank Lowers Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target to C$16.50

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective lowered by research analysts at Scotiabank from C$17.50 to C$16.50 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 26.34% from the company’s current price.

A number of other research firms have also recently issued reports on MI.UN. BMO Capital Markets lowered their target price on Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a report on Thursday. CIBC lowered their target price on Minto Apartment Real Estate Invt Trust from C$20.00 to C$18.00 and set an “outperform” rating for the company in a report on Friday. Royal Bank of Canada lowered their target price on Minto Apartment Real Estate Invt Trust from C$20.50 to C$19.50 and set an “outperform” rating for the company in a report on Friday. Raymond James lowered their target price on Minto Apartment Real Estate Invt Trust from C$17.25 to C$16.00 and set an “outperform” rating for the company in a report on Friday. Finally, National Bankshares reduced their price objective on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.75 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$17.75.

Minto Apartment Real Estate Invt Trust Price Performance

MI.UN stock opened at C$13.06 on Friday. The stock has a 50-day moving average price of C$13.17 and a two-hundred day moving average price of C$14.51. The stock has a market cap of C$521.36 million, a PE ratio of -14.67 and a beta of 1.23. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09. Minto Apartment Real Estate Invt Trust has a 1 year low of C$12.63 and a 1 year high of C$17.37.

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.