Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Reaches New 12-Month Low – Here’s Why

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as C$12.79 and last traded at C$12.80, with a volume of 15337 shares trading hands. The stock had previously closed at C$12.84.

Wall Street Analyst Weigh In

Several brokerages have commented on MI.UN. National Bankshares boosted their price target on shares of Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.75 in a research report on Wednesday, October 9th. Scotiabank cut their target price on shares of Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a research note on Thursday, November 14th. Raymond James decreased their price target on shares of Minto Apartment Real Estate Invt Trust from C$19.00 to C$17.25 in a research report on Monday, January 13th. BMO Capital Markets cut their price objective on Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.00 in a research report on Thursday, November 14th. Finally, CIBC cut their target price on Minto Apartment Real Estate Invt Trust from C$21.00 to C$20.00 in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$19.68.

Minto Apartment Real Estate Invt Trust Price Performance

The company has a market cap of C$514.97 million, a P/E ratio of -14.49 and a beta of 1.23. 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 50-day simple moving average of C$13.63 and a 200 day simple moving average of C$15.05.

Minto Apartment Real Estate Invt Trust Company Profile

Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada. As of December 31, 2020, its portfolio consists of interests in 29 multi-residential rental properties, including three mixed-use residential apartment and commercial buildings in Toronto, Ottawa, Montréal, Calgary, and Edmonton.