InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Raised to C$12.50

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target raised by equities researchers at Canaccord Genuity Group from C$12.00 to C$12.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 25.25% from the stock’s current price.

Several other equities research analysts have also recently weighed in on IIP.UN. CIBC decreased their price objective 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 report on Wednesday. Scotiabank dropped 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 report on Wednesday. Raymond James dropped their price objective on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada cut their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. Finally, TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, InterRent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

IIP.UN traded up C$0.08 on Wednesday, reaching C$9.98. The company had a trading volume of 232,977 shares, compared to its average volume of 394,966. The company’s fifty day moving average is C$9.98 and its 200 day moving average is C$11.22. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.40 and a fifty-two week high of C$14.40. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The stock has a market cap of C$1.48 billion, a P/E ratio of -499.00 and a beta of 1.13.

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.