Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Sets New 1-Year High at $23.99

Shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$23.99 and last traded at C$23.64, with a volume of 97323 shares. The stock had previously closed at C$23.19.

Several equities analysts have issued reports on the company. National Bank Financial raised their price objective on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.50 and gave the stock a “sector perform” rating in a report on Thursday, August 15th. TD Securities raised their price objective on Minto Apartment Real Estate Invt Trust from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Raymond James raised their price objective on Minto Apartment Real Estate Invt Trust from C$22.00 to C$25.00 and gave the stock a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets raised their price objective on Minto Apartment Real Estate Invt Trust from C$22.50 to C$23.50 in a report on Friday, August 16th. Finally, CIBC raised their price objective on Minto Apartment Real Estate Invt Trust from C$22.00 to C$23.00 in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$24.00.

The company has a quick ratio of 0.06, a current ratio of 0.39 and a debt-to-equity ratio of 146.90. The stock has a fifty day moving average of C$22.76 and a 200-day moving average of C$20.47. The stock has a market cap of $583.25 million and a PE ratio of 5.19.

Minto Apartment Real Estate Invt Trust Company Profile (TSE:MI.UN)

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.

Further Reading: What is intrinsic value?

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