InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective lifted by stock analysts at Canaccord Genuity Group from C$12.00 to C$12.50 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 25.25% from the company’s current price.

Several other brokerages have also commented on IIP.UN. CIBC decreased their price target on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Wednesday. Raymond James lowered their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank lowered their target price on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating for the company in a report on Wednesday. Royal Bank of Canada decreased their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Finally, TD Securities raised 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 report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Trading Up 0.8 %

TSE IIP.UN traded up C$0.08 on Wednesday, reaching C$9.98. The stock had a trading volume of 232,977 shares, compared to its average volume of 394,966. InterRent Real Estate Investment Trust has a 12-month low of C$9.40 and a 12-month high of C$14.40. The stock has a fifty day moving average price of C$9.98 and a two-hundred day moving average price of C$11.22. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The firm has a market capitalization of C$1.48 billion, a price-to-earnings 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.