InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$12.25 at Scotiabank

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective cut by equities researchers at Scotiabank from C$12.50 to C$12.25 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 22.75% from the company’s current price.

Other equities analysts also recently issued research reports about the company. CIBC lowered 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 report on Wednesday. TD Securities upgraded 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. Raymond James decreased their price target 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. Finally, Royal Bank of Canada reduced their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.8 %

Shares of TSE IIP.UN traded up C$0.08 during mid-day trading on Wednesday, reaching C$9.98. 232,977 shares of the company were exchanged, compared to its average volume of 394,966. 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 stock has a market cap of C$1.48 billion, a price-to-earnings ratio of -499.00 and a beta of 1.13. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$14.40. The firm has a 50-day moving average of C$9.98 and a 200 day moving average of C$11.22.

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.