Minto Apartment Real Estate Investment Trust T.MI.UN

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 Raymond James analyst Brad Sturges increased his Minto Apartment Real Estate Investment Trust (MI.UN-T) target to $28 from $26 with an “outperform” rating, while Canaccord Genuity’s Brendon Abrams raised his target to $26.50 from $26 with a “buy” rating and TD’s Jonathan Keltcher raised his target to $28 from $27 with a “buy” rating. The average is $25.90.

“We believe Minto’s NAV discount valuation provides an attractive entry point as Canadian urban multifamily property fundamentals recover in the coming quarters,” said Mr. Sturges. “We believe Minto also offers above-average 2022E AFFO/unit growth prospects as its average occupancy rates recover back to pre-covid levels, and rent growth accelerates when the REIT’s pricing power returns.”