CIBC Has Lowered Expectations for Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Stock Price

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its price objective cut by stock analysts at CIBC from C$21.00 to C$20.00 in a research note issued on Thursday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 40.06% from the stock’s previous close.

A number of other research firms also recently commented on MI.UN. BMO Capital Markets decreased their target price on Minto Apartment Real Estate Invt Trust from C$19.00 to C$18.50 in a report on Monday, October 28th. Royal Bank of Canada dropped their price target 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. TD Securities raised their target price on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.00 in a research report on Thursday, August 15th. Scotiabank dropped their price objective on Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a report on Thursday. Finally, National Bankshares lifted their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.75 in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Minto Apartment Real Estate Invt Trust presently has an average rating of “Moderate Buy” and an average price target of C$19.68.

Minto Apartment Real Estate Invt Trust Stock Performance

Minto Apartment Real Estate Invt Trust stock traded up C$0.17 during mid-day trading on Thursday, reaching C$14.28. 39,667 shares of the company traded hands, compared to its average volume of 90,731. Minto Apartment Real Estate Invt Trust has a fifty-two week low of C$13.69 and a fifty-two week high of C$17.89. The firm’s fifty day moving average is C$15.74 and its two-hundred day moving average is C$15.53. The company has a debt-to-equity ratio of 101.09, a current ratio of 1.11 and a quick ratio of 0.04. The company has a market capitalization of C$570.06 million, a price-to-earnings ratio of -16.04 and a beta of 1.23.

Minto Apartment Real Estate Invt Trust Company Profile

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.