Minto Apartment Real Estate Invt Trust (TSE:MI.UN) Shares Down 0.5% – What’s Next?

Minto Apartment Real Estate Invt Trust (TSE:MI.UN)’s share price was down 0.5% during mid-day trading on Thursday . The stock traded as low as C$17.40 and last traded at C$17.40. Approximately 20,966 shares traded hands during trading, a decline of 86% from the average daily volume of 149,677 shares. The stock had previously closed at C$17.48.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada cut Minto Apartment Real Estate Invt Trust from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$16.50 to C$18.00 in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$17.38.

Minto Apartment Real Estate Invt Trust Stock Performance

The company’s 50-day simple moving average is C$17.55 and its 200 day simple moving average is C$16.38. The stock has a market cap of C$634.85 million, a P/E ratio of -1.76 and a beta of 0.52. The company has a current ratio of 1.11, a quick ratio of 0.04 and a debt-to-equity ratio of 101.09.

Minto Apartment Real Estate Invt Trust (TSE:MI.UN) last released its earnings results on Monday, May 11th. The company reported C($2.77) earnings per share (EPS) for the quarter. The business had revenue of C$39.41 million during the quarter. Minto Apartment Real Estate Invt Trust had a negative net margin of 22.43% and a negative return on equity of 3.19%. As a group, sell-side analysts expect that Minto Apartment Real Estate Invt Trust will post 1.0174984 EPS for the current fiscal year.

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.