Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Downgraded by Canaccord Genuity Group to Hold

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a report released on Tuesday,BayStreet.CA reports. They currently have a C$18.00 target price on the stock, up from their prior target price of C$15.50. Canaccord Genuity Group’s target price would indicate a potential upside of 3.51% from the company’s previous close.

MI.UN has been the subject of a number of other research reports. TD Securities lowered their price objective on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating for the company in a research report on Friday, December 12th. CIBC cut Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and raised their price target for the company from C$17.00 to C$18.00 in a research note on Tuesday. Raymond James Financial upped their target price 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 report on Tuesday. National Bankshares lifted their price target on Minto Apartment Real Estate Invt Trust from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Scotiabank increased their target price on shares of Minto Apartment Real Estate Invt Trust from C$14.75 to C$18.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Minto Apartment Real Estate Invt Trust has an average rating of “Hold” and a consensus price target of C$17.06.

Minto Apartment Real Estate Invt Trust Price Performance

TSE MI.UN traded up C$0.09 during mid-day trading on Tuesday, hitting C$17.39. The stock had a trading volume of 539,888 shares, compared to its average volume of 1,300,804. The stock has a market capitalization of C$637.05 million, a price-to-earnings ratio of 9.30 and a beta of 1.00. The company has a debt-to-equity ratio of 101.09, a current ratio of 1.11 and a quick ratio of 0.04. Minto Apartment Real Estate Invt Trust has a twelve month low of C$11.94 and a twelve month high of C$17.39. The firm’s 50 day moving average is C$13.50 and its 200 day moving average is C$13.76.

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.