Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Announces Quarterly Earnings Results

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) posted its quarterly earnings data on Wednesday. The company reported C($6.24) EPS for the quarter, FiscalAI reports. Minto Apartment Real Estate Invt Trust had a negative net margin of 22.43% and a negative return on equity of 3.19%. The company had revenue of C$38.92 million for the quarter.

Minto Apartment Real Estate Invt Trust Price Performance

TSE MI.UN traded down C$0.02 on Friday, reaching C$17.53. 128,592 shares of the stock traded hands, compared to its average volume of 230,929. Minto Apartment Real Estate Invt Trust has a 12 month low of C$11.94 and a 12 month high of C$17.69. The company has a market cap of C$642.18 million, a price-to-earnings ratio of 9.38 and a beta of 0.58. The firm’s fifty day simple moving average is C$17.13 and its 200 day simple moving average is C$14.79. The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MI.UN shares. Royal Bank Of Canada lowered Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$16.50 to C$18.00 in a research note on Tuesday, February 10th. Canadian Imperial Bank of Commerce downgraded shares of Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and raised their price target for the stock from C$17.00 to C$18.00 in a research report on Tuesday, January 6th. TD Securities cut their price target on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, December 12th. Raymond James Financial increased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$14.25 to C$18.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Finally, Canaccord Genuity Group lowered shares of Minto Apartment Real Estate Invt Trust from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$15.50 to C$18.00 in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$17.38.

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, Calgary and Vancouver.