Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Stock Price Up 27% – Still a Buy?

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) shares traded up 27% on Monday . The stock traded as high as C$17.32 and last traded at C$17.28. 2,908,685 shares were traded during mid-day trading, an increase of 92% from the average session volume of 1,513,245 shares. The stock had previously closed at C$13.61.

Analyst Upgrades and Downgrades

Separately, TD Securities cut 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 on the stock in a report on Friday, December 12th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$15.67.

Minto Apartment Real Estate Invt Trust Stock Performance

The firm’s 50 day moving average is C$13.43 and its 200 day moving average is C$13.74. The company has a debt-to-equity ratio of 101.09, a quick ratio of 0.04 and a current ratio of 1.11. The stock has a market cap of C$633.75 million, a P/E ratio of 9.26 and a beta of 1.00.

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, Calgary and Vancouver.