Royal Bank of Canada Has Lowered Expectations for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target cut by research analysts at Royal Bank of Canada from C$16.50 to C$15.00 in a note issued to investors on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s target price suggests a potential upside of 36.61% from the company’s previous close.

Several other brokerages have also weighed in on IIP.UN. National Bankshares increased their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. BMO Capital Markets reduced their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Finally, TD Securities raised shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$14.93.

InterRent Real Estate Investment Trust Trading Down 2.3 %

InterRent Real Estate Investment Trust stock traded down C$0.26 during trading on Wednesday, reaching C$10.98. The company had a trading volume of 429,584 shares, compared to its average volume of 372,185. 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 firm has a market capitalization of C$1.62 billion, a price-to-earnings ratio of -549.00 and a beta of 1.13. InterRent Real Estate Investment Trust has a 12-month low of C$10.84 and a 12-month high of C$14.50. The stock’s 50 day moving average price is C$12.37 and its two-hundred day moving average price is C$12.27.

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.