Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Raised to C$17.00

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective lifted by equities researchers at Royal Bank of Canada from C$15.50 to C$17.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target points to a potential upside of 6.65% from the company’s previous close.

A number of other brokerages have also recently issued reports on IIP.UN. Laurentian cut shares of Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating and set a C$15.75 price objective for the company. in a research note on Thursday, August 1st. TD Securities cut shares of Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating and increased their price objective for the stock from C$16.50 to C$17.50 in a research note on Tuesday, October 1st. Raymond James set a C$18.00 price objective on shares of Interrent Real Estate Investment Trust and gave the stock an “outperform” rating in a research note on Wednesday. CIBC increased their price objective on shares of Interrent Real Estate Investment Trust from C$15.00 to C$16.00 in a research note on Wednesday. Finally, Canaccord Genuity increased their price objective on shares of Interrent Real Estate Investment Trust from C$15.00 to C$16.00 in a research note on Wednesday, September 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Interrent Real Estate Investment Trust has an average rating of “Hold” and a consensus target price of C$16.54.

IIP.UN traded up C$0.36 during trading on Thursday, hitting C$15.94. The company’s stock had a trading volume of 639,538 shares, compared to its average volume of 192,961. The company has a quick ratio of 0.02, a current ratio of 0.07 and a debt-to-equity ratio of 74.54. Interrent Real Estate Investment Trust has a one year low of C$12.06 and a one year high of C$16.61. The firm has a market cap of $1.93 billion and a PE ratio of 9.61. The business’s 50 day simple moving average is C$15.87 and its 200-day simple moving average is C$14.85.

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.

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