InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) Hits New 1-Year Low – Here’s What Happened

Shares of InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $6.72 and last traded at $6.72, with a volume of 21195 shares changing hands. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IIPZF. Canaccord Genuity Group upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Cibc World Mkts upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 6th.

InterRent Real Estate Investment Trust Price Performance

The stock has a fifty day simple moving average of $7.25 and a two-hundred day simple moving average of $8.44. The company has a market cap of $991.20 million, a PE ratio of -61.09 and a beta of 0.75. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.37) earnings per share for the quarter. The business had revenue of $44.58 million during the quarter. InterRent Real Estate Investment Trust had a negative net margin of 8.47% and a negative return on equity of 0.81%.

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.