InterRent Real Estate Investment Trust (TSE:IIP.UN) Trading Up 14.6% – Should You Buy?

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) traded up 14.6% on Tuesday . The company traded as high as C$13.79 and last traded at C$13.57. 5,049,164 shares were traded during mid-day trading, an increase of 903% from the average session volume of 503,408 shares. The stock had previously closed at C$11.84.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BMO Capital Markets raised their target price on InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research note on Thursday, May 22nd. TD Securities lifted their price objective on shares of InterRent Real Estate Investment Trust from C$13.00 to C$13.50 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Royal Bank of Canada lowered their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Raymond James upped their target price on InterRent Real Estate Investment Trust from C$12.75 to C$13.25 in a report on Thursday, May 22nd. Finally, Scotiabank cut their price target on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$13.03.

InterRent Real Estate Investment Trust Trading Up 15.0%

The stock has a market cap of C$2.01 billion, a PE ratio of -681.00 and a beta of 1.13. The company has a 50 day moving average of C$11.02 and a two-hundred day moving average of C$10.50. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

InterRent Real Estate Investment Trust Company Profile

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.