Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Hits New 52-Week Low – Here’s What Happened

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) shares hit a new 52-week low during trading on Monday . The stock traded as low as C$12.65 and last traded at C$13.00, with a volume of 45285 shares traded. The stock had previously closed at C$13.20.

Analyst Ratings Changes

Several equities analysts recently weighed in on MI.UN shares. CIBC lowered their target price on shares of Minto Apartment Real Estate Invt Trust from C$21.00 to C$20.00 in a report on Thursday, November 14th. BMO Capital Markets lowered 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. National Bankshares raised their price objective on Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.75 in a research note on Wednesday, October 9th. Raymond James decreased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$19.00 to C$17.25 in a research note on Monday, January 13th. Finally, Scotiabank lowered their target price on Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently 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 business’s 50-day simple moving average is C$13.50 and its two-hundred day simple moving average is C$14.95. The stock has a market cap of C$524.15 million, a P/E ratio of -14.75 and a beta of 1.23. The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09.

About Minto Apartment Real Estate Invt Trust

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.