Minto Apartment Real Estate Investment Trust (MI.UN) Received its Third Buy in a Row

By Carrie Williams

Analysts seem to be feeling optimistic about Minto Apartment Real Estate Investment Trust (MI.UNResearch Report) lately, as after Desjardins and Raymond James rated the stock a Buy this past month, there is another positive note, this time from RBC Capital. Minto Apartment Real Estate Investment Trust (TSX: MI.UN), the Financial sector company has received a rating update from a Wall Street analyst today.

Logan has an average return of 5.9% when recommending Minto Apartment Real Estate Investment Trust.

According to TipRanks.com, Logan is ranked #3320 out of 5239 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Minto Apartment Real Estate Investment Trust with a C$22.25 average price target, representing a 3.5% upside. In a report released today, Raymond James also maintained a Buy rating on the stock with a C$22 price target.

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Based on Minto Apartment Real Estate Investment Trust’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$18.67 million. In comparison, last year the company had a net profit of C$7.84 million.

Minto Apartment Real Estate Investment Trust engages in the ownership of multi-residential rental properties. Its objective is to provide shareholder’s an opportunity to invest in multi-residential rental properties and maximize long-term shareholder’s value through value-enhancing capital investment programs.

The company’s shares closed last Wednesday at C$21.50.