Scotiabank Lowers Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Price Target to C$22.75

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Minto Apartment Real Estate Invt Trust (TSE:MI.UN) had its target price reduced by Scotiabank from C$23.00 to C$22.75 in a research report report published on Monday morning, BayStreet.CA reports.

A number of other research firms have also weighed in on MI.UN. CIBC cut their price objective on shares of Minto Apartment Real Estate Invt Trust from C$25.50 to C$24.00 in a research note on Friday, May 8th. Raymond James set a C$24.00 price target on shares of Minto Apartment Real Estate Invt Trust and gave the company an outperform rating in a report on Friday, May 8th. BMO Capital Markets cut their price target on Minto Apartment Real Estate Invt Trust from C$24.50 to C$23.00 in a research report on Monday, May 11th. Finally, TD Securities boosted their price objective on Minto Apartment Real Estate Invt Trust from C$26.00 to C$27.00 and gave the company a buy rating in a report on Friday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of C$24.16.

Shares of TSE:MI.UN opened at C$18.36 on Monday. Minto Apartment Real Estate Invt Trust has a twelve month low of C$15.58 and a twelve month high of C$28.31. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 119.96. The company has a market cap of $666.01 million and a PE ratio of 5.26. The company’s 50 day moving average is C$18.92 and its 200 day moving average is C$21.06.

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, Ottawa, Calgary and Edmonton.

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