Minto Apartment Real Estate Invt Trust (TSE:MI.UN)‘s stock had its “strong-buy” rating reaffirmed by research analysts at Raymond James in a report released on Wednesday, BayStreet.CA reports. They presently have a C$22.00 target price on the stock. Raymond James’ price target points to a potential upside of 0.92% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. National Bank Financial set a C$21.00 price objective on Minto Apartment Real Estate Invt Trust and gave the stock a “sector perform” rating in a research note on Tuesday, April 16th. CIBC raised their price target on Minto Apartment Real Estate Invt Trust from C$22.00 to C$23.00 in a research note on Wednesday. BMO Capital Markets cut their price target on Minto Apartment Real Estate Invt Trust from C$22.75 to C$22.50 in a research note on Monday, April 22nd. Industrial Alliance Securities raised Minto Apartment Real Estate Invt Trust from a “buy” rating to a “strong-buy” rating and raised their price target for the stock from C$22.00 to C$25.00 in a research note on Wednesday. Finally, Royal Bank of Canada raised their price target on Minto Apartment Real Estate Invt Trust from C$21.50 to C$23.50 and gave the stock an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$23.14.
Shares of Minto Apartment Real Estate Invt Trust stock opened at C$21.80 on Wednesday. The business has a 50-day simple moving average of C$19.69. The stock has a market cap of $459.15 million and a P/E ratio of 4.78. The company has a debt-to-equity ratio of 256.87, a quick ratio of 0.06 and a current ratio of 0.39. Minto Apartment Real Estate Invt Trust has a 1 year low of C$16.01 and a 1 year high of C$20.72.
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, Ottawa, Calgary and Edmonton.
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