Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Cut to Sector Perform at Royal Bank Of Canada

Royal Bank Of Canada downgraded shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN) from an outperform rating to a sector perform rating in a research report report published on Tuesday,BayStreet.CA reports. The brokerage currently has C$18.00 price objective on the stock, up from their prior price objective of C$16.50.

Other research analysts also recently issued reports about the stock. Canadian Imperial Bank of Commerce downgraded shares of Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from C$17.00 to C$18.00 in a research report on Tuesday, January 6th. Scotiabank lifted their price objective 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 report on Tuesday, January 6th. Raymond James Financial increased their target price on 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, January 6th. Canaccord Genuity Group cut Minto Apartment Real Estate Invt Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from C$15.50 to C$18.00 in a research report on Tuesday, January 6th. Finally, National Bank Financial lifted their price target on Minto Apartment Real Estate Invt Trust from C$15.00 to C$18.00 and gave the company a “sector perform” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$17.11.

Minto Apartment Real Estate Invt Trust Trading Up 0.1%

Shares of MI.UN opened at C$17.58 on Tuesday. The business’s 50-day moving average price is C$15.76 and its 200 day moving average price is C$14.37. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09. The stock has a market capitalization of C$644.01 million, a P/E ratio of 9.41 and a beta of 0.96. Minto Apartment Real Estate Invt Trust has a 1-year low of C$11.94 and a 1-year high of C$17.69.

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.