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

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) shares hit a new 52-week low on Friday . The company traded as low as C$12.79 and last traded at C$12.80, with a volume of 15337 shares changing hands. The stock had previously closed at C$12.84.

Analyst Ratings Changes

A number of equities analysts have issued reports on MI.UN shares. National Bankshares raised 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 reduced their target price on shares of Minto Apartment Real Estate Invt Trust from C$18.75 to C$17.75 in a report on Thursday, November 14th. CIBC lowered their price target on shares of Minto Apartment Real Estate Invt Trust from C$21.00 to C$20.00 in a report on Thursday, November 14th. Raymond James reduced their price objective on Minto Apartment Real Estate Invt Trust from C$19.00 to C$17.25 in a research note on Monday, January 13th. Finally, BMO Capital Markets lowered their target price on Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.00 in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$19.68.

Minto Apartment Real Estate Invt Trust Trading Up 1.3 %

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 company has a fifty day simple moving average of C$13.61 and a 200-day simple moving average of C$15.04. The company has a market capitalization of C$519.36 million, a PE ratio of -14.62 and a beta of 1.23.

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.