Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Cut to Hold at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN) from a buy rating to a hold rating in a report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has C$18.00 price objective on the stock, up from their previous price objective of C$15.50.

Other research analysts have also issued research reports about the stock. Scotiabank raised their price objective on shares of Minto Apartment Real Estate Invt Trust from C$14.75 to C$18.00 and gave the company a “sector perform” rating in a research note on Tuesday. CIBC cut Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$17.00 to C$18.00 in a research report on Tuesday. National Bankshares boosted their price objective on Minto Apartment Real Estate Invt Trust from C$15.00 to C$18.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Raymond James Financial upped their price objective 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. Finally, TD Securities lowered their target price on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating on the stock in a report on Friday, December 12th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$17.06.

Minto Apartment Real Estate Invt Trust Stock Up 0.3%

Minto Apartment Real Estate Invt Trust stock opened at C$17.51 on Tuesday. The stock has a market cap of C$641.44 million, a price-to-earnings ratio of 9.37 and a beta of 1.00. 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’s 50-day moving average price is C$13.73 and its two-hundred day moving average price is C$13.84. Minto Apartment Real Estate Invt Trust has a 52 week low of C$11.94 and a 52 week high of C$17.54.

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.