Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Trading Down 0.6% – Time to Sell?

Shares of Minto Apartment Real Estate Invt Trust (TSE:MI.UN) dropped 0.6% on Monday . The company traded as low as C$15.63 and last traded at C$15.80. Approximately 63,791 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 90,717 shares. The stock had previously closed at C$15.89.

Wall Street Analysts Forecast Growth

MI.UN has been the subject of several analyst reports. Royal Bank of Canada lowered their target price on shares of Minto Apartment Real Estate Invt Trust from C$22.00 to C$21.50 in a report on Thursday, August 15th. Raymond James decreased their price objective on shares of Minto Apartment Real Estate Invt Trust from C$20.25 to C$19.75 in a research note on Thursday, August 15th. TD Securities boosted their target price on Minto Apartment Real Estate Invt Trust from C$21.00 to C$22.00 in a research note on Thursday, August 15th. Finally, National Bankshares increased their price target on Minto Apartment Real Estate Invt Trust from C$18.50 to C$18.75 in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Minto Apartment Real Estate Invt Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$20.02.

Minto Apartment Real Estate Invt Trust Price Performance

The business’s 50-day moving average price is C$16.32 and its 200 day moving average price is C$15.61. The company has a market capitalization of C$617.96 million, a P/E ratio of -17.39 and a beta of 1.22. The company has a quick ratio of 0.04, a current ratio of 1.11 and a debt-to-equity ratio of 101.09.

About Minto Apartment Real Estate Invt Trust

Minto Apartment Real Estate Investment Trust, an open-ended real estate investment trust, owns and operates a portfolio of income-producing multi-residential rental properties located in Canada. As of December 31, 2020, its portfolio consists of interests in 29 multi-residential rental properties, including three mixed-use residential apartment and commercial buildings in Toronto, Ottawa, Montréal, Calgary, and Edmonton.