Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Trading 27% Higher – Here’s Why

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s share price traded up 27% during trading on Monday . The stock traded as high as C$17.32 and last traded at C$17.28. 2,908,685 shares changed hands during mid-day trading, an increase of 92% from the average session volume of 1,513,245 shares. The stock had previously closed at C$13.61.

Analysts Set New Price Targets

Separately, TD Securities decreased their target price on Minto Apartment Real Estate Invt Trust from C$17.00 to C$16.50 and set a “buy” rating for the company in a research report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$15.67.

Minto Apartment Real Estate Invt Trust Stock Up 27.1%

The firm has a market cap of C$633.75 million, a P/E ratio of 9.26 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 business has a 50-day moving average price of C$13.43 and a 200-day moving average price of C$13.74.

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.