InterRent Real Estate Investment Trust (TSE:IIP.UN – Get Free Report) had its price target reduced by research analysts at Royal Bank of Canada from C$15.00 to C$14.50 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 48.72% from the stock’s current price.
A number of other brokerages have also recently issued reports on IIP.UN. TD Securities raised shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a research note on Wednesday, November 6th. CIBC cut their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating for the company in a research note on Wednesday. Canaccord Genuity Group raised their target price on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank cut their target price on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Raymond James cut their target price on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, InterRent Real Estate Investment Trust has an average rating of “Moderate Buy” and an average price target of C$13.50.
Check Out Our Latest Stock Report on InterRent Real Estate Investment Trust
InterRent Real Estate Investment Trust Stock Performance
Shares of TSE IIP.UN opened at C$9.75 on Wednesday. The firm has a fifty day moving average price of C$9.97 and a 200-day moving average price of C$11.20. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The stock has a market cap of C$1.44 billion, a PE ratio of -487.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$14.40.
InterRent Real Estate Investment Trust Company Profile
InterRent?REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution?through the acquisition and ownership of multi-residential properties. InterRent’s strategy is to expand its portfolio primarily within?markets that have exhibited stable market vacancies,?sufficient suites available to attain the critical mass necessary to implement?an efficient portfolio management structure, and?offer opportunities for accretive acquisitions.
Further Reading
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