Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Shares Down 0.1% – Here’s What Happened

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s stock price was down 0.1% during mid-day trading on Wednesday . The stock traded as low as C$17.43 and last traded at C$17.43. Approximately 38,644 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 213,766 shares. The stock had previously closed at C$17.45.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Canaccord Genuity Group downgraded Minto Apartment Real Estate Invt Trust from a “buy” rating to a “hold” rating and upped their price objective for the company from C$15.50 to C$18.00 in a report on Tuesday, January 6th. Canadian Imperial Bank of Commerce cut Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “neutral” rating and raised their target price for the stock from C$17.00 to C$18.00 in a report on Tuesday, January 6th. TD Securities lowered their price target 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 note on Friday, December 12th. Scotiabank increased their price target 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 report on Tuesday, January 6th. Finally, Raymond James Financial lifted their price objective on shares of Minto Apartment Real Estate Invt Trust from C$14.25 to C$18.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$17.38.

Minto Apartment Real Estate Invt Trust Stock Performance

The company has a debt-to-equity ratio of 101.09, a current ratio of 1.11 and a quick ratio of 0.04. The stock’s 50 day simple moving average is C$17.52 and its two-hundred day simple moving average is C$15.04. The stock has a market cap of C$637.78 million, a P/E ratio of -2.61 and a beta of 0.58.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C($6.24) earnings per share (EPS) for the quarter. Minto Apartment Real Estate Invt Trust had a negative return on equity of 3.19% and a negative net margin of 22.43%.The company had revenue of C$38.92 million for the quarter. As a group, research analysts forecast that Minto Apartment Real Estate Invt Trust will post 1.0174984 EPS for the current year.

Minto Apartment Real Estate Invt Trust Company Profile

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.