Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Cut to “Neutral” at CIBC

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a report released on Tuesday,BayStreet.CA reports. They currently have a C$18.00 price target on the stock, up from their prior price target of C$17.00. CIBC’s price objective would suggest a potential upside of 3.51% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Raymond James Financial raised 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. TD Securities decreased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating on the stock in a research report on Friday, December 12th. Finally, National Bankshares raised their target price on shares of 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. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$17.06.

Minto Apartment Real Estate Invt Trust Stock Performance

Minto Apartment Real Estate Invt Trust stock traded up C$0.09 during midday trading on Tuesday, hitting C$17.39. 539,888 shares of the company’s stock were exchanged, compared to its average volume of 1,300,804. 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 market cap of C$637.05 million, a price-to-earnings ratio of 9.30 and a beta of 1.00. Minto Apartment Real Estate Invt Trust has a 12-month low of C$11.94 and a 12-month high of C$17.39. The firm’s 50 day simple moving average is C$13.50 and its 200 day simple moving average is C$13.76.

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.