Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Raised to C$15.00 at CIBC

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective raised by stock analysts at CIBC from C$14.00 to C$15.00 in a note issued to investors on Thursday, BayStreet.CA reports. CIBC’s price objective indicates a potential downside of 0.79% from the company’s current price.

A number of other brokerages also recently weighed in on IIP.UN. BMO Capital Markets raised their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$16.15 in a research report on Thursday. Royal Bank of Canada raised their price objective on Interrent Real Estate Investment Trust from C$14.50 to C$15.50 and gave the company a “sector perform” rating in a research report on Thursday. National Bank Financial raised their price objective on Interrent Real Estate Investment Trust from C$14.00 to C$14.50 and gave the company a “sector perform” rating in a research report on Wednesday, May 1st. TD Securities raised their price objective on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company a “buy” rating in a research report on Thursday. Finally, Raymond James raised their price objective on Interrent Real Estate Investment Trust from C$15.50 to C$16.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Interrent Real Estate Investment Trust has a consensus rating of “Buy” and a consensus price target of C$15.43.

IIP.UN stock traded up C$0.39 during trading on Thursday, reaching C$15.12. 333,150 shares of the company traded hands, compared to its average volume of 192,961. Interrent Real Estate Investment Trust has a 12 month low of C$10.71 and a 12 month high of C$14.79. The company’s 50 day moving average price is C$14.22. The company has a market capitalization of $1.61 billion and a P/E ratio of 7.99. The company has a quick ratio of 0.02, a current ratio of 0.08 and a debt-to-equity ratio of 72.93.

In other Interrent Real Estate Investment Trust news, Senior Officer Michael Robert Clancy purchased 2,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was bought at an average cost of C$13.75 per share, for a total transaction of C$27,500.00. Following the completion of the purchase, the insider now owns 55,814 shares in the company, valued at approximately C$767,442.50.

About Interrent Real Estate Investment Trust

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.

See Also: What is a put option?

Analyst Recommendations for Interrent Real Estate Investment Trust (TSE:IIP.UN)

Receive News & Ratings for Interrent Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interrent Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.