InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$12.50 at Raymond James

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price decreased by Raymond James from C$13.00 to C$12.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ target price would indicate a potential upside of 25.25% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada cut their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. 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 research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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 on Wednesday, hitting C$9.98. 232,977 shares of the company’s stock were exchanged, compared to its average volume of 394,966. The firm’s 50-day moving average is C$9.98 and its 200 day moving average is C$11.22. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The company has a market capitalization of C$1.48 billion, a PE 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.

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.