Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Shares Up 1% – Still a Buy?

Shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN) shot up 1% on Monday . The stock traded as high as C$13.69 and last traded at C$13.53. 157,103 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 180,551 shares. The stock had previously closed at C$13.40.

Analysts Set New Price Targets

Several research firms have weighed in on MI.UN. BMO Capital Markets decreased their price target on shares of Minto Apartment Real Estate Invt Trust from C$15.50 to C$15.00 in a research note on Thursday, March 6th. Desjardins dropped their price target on Minto Apartment Real Estate Invt Trust from C$16.50 to C$15.50 and set a “buy” rating on the stock in a research note on Friday, March 7th. National Bankshares reduced their price objective on 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, March 7th. 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 on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada cut their target price on Minto Apartment Real Estate Invt Trust from C$20.50 to C$19.50 and set an “outperform” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$17.41.

Minto Apartment Real Estate Invt Trust Price Performance

The firm has a market cap of C$538.92 million, a P/E ratio of -15.17 and a beta of 1.23. The company has a fifty day moving average of C$13.23 and a 200-day moving average of C$14.12. 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 Company Profile

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.