Royal Bank of Canada Cuts InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$15.00

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective lowered by equities research analysts at Royal Bank of Canada from C$16.50 to C$15.00 in a research note issued on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 36.61% from the company’s previous close.

IIP.UN has been the subject of a number of other research reports. BMO Capital Markets decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$14.93.

InterRent Real Estate Investment Trust Stock Down 2.3 %

Shares of IIP.UN stock traded down C$0.26 during trading on Wednesday, hitting C$10.98. 429,584 shares of the company were exchanged, compared to its average volume of 372,185. The business’s 50-day simple moving average is C$12.37 and its 200 day simple moving average is C$12.27. InterRent Real Estate Investment Trust has a twelve month low of C$10.84 and a twelve month high of C$14.50. The firm has a market capitalization of C$1.62 billion, a price-to-earnings ratio of -549.00 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

About InterRent Real Estate Investment Trust

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.