Scotiabank Adjusts Price Target for Minto Apartment Real Estate Investment Trust

Scotiabank has revised its price target for Minto Apartment Real Estate Investment Trust (TSE:MI.UN) from C$17.50 to C$16.50. This announcement was made in a report released on Friday. Along with lowering the price target, Scotiabank has assigned a "sector perform" rating to the company. The new price objective implies a potential upside of approximately 26.24% from the stock's previous closing price.

Other equity research firms have also recently analyzed Minto Apartment Real Estate Investment Trust. For instance, Desjardins adjusted their target price downwards from C$16.50 to C$15.50 while maintaining a "buy" rating. Meanwhile, Raymond James has lowered their price target from C$17.25 to C$16.00 and set an "outperform" rating. Similarly, National Bankshares reduced their price target from C$17.00 to C$16.75, maintaining an "outperform" rating. Additionally, Royal Bank of Canada cut their target from C$20.50 to C$19.50, also retaining an "outperform" rating. On the other hand, BMO Capital Markets lowered their price target from C$15.50 to C$15.00. Currently, one analyst has rated the stock as a hold, while eight analysts suggest a buy rating. According to MarketBeat.com, Minto Apartment Real Estate Investment Trust holds a consensus rating of "Moderate Buy" with an average target price of C$17.98.

Minto Apartment Real Estate Investment Trust Stock Overview

Shares of Minto Apartment Real Estate Investment Trust (TSE:MI.UN) saw a minor increase of C$0.06 during midday trading on Friday, bringing the share price to C$13.07. The trading volume for the shares was recorded at 117,858, which is lower than the average volume of 191,517 shares. Over the past twelve months, the stock has reached a low of C$12.63 and a high of C$17.37. The company has a market capitalization of C$521.75 million and a PE ratio of -14.69. As for liquidity, the quick ratio stands at 0.04 and the current ratio is 1.11, while the debt-to-equity ratio is notably high at 101.09. The fifty-day moving average price is C$13.18, compared to a 200-day moving average of C$14.53.

About Minto Apartment Real Estate Investment Trust

Minto Apartment Real Estate Investment Trust is an unincorporated entity that operates as an open-ended real estate investment trust. It has been established under the laws of the Province of Ontario and is focused on owning income-producing multi-residential properties in urban markets across Canada. The trust manages a diverse portfolio that includes high-quality rental properties situated in major cities such as Toronto, Montreal, Ottawa, and Calgary.

Scotiabank, Minto, Investment