InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$14.50 at Royal Bank of Canada

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective lowered by equities researchers at Royal Bank of Canada from C$15.00 to C$14.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price points to a potential upside of 45.29% from the stock’s current price.

A number of other equities analysts also recently issued reports on IIP.UN. Raymond James cut their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research note on Wednesday. Canaccord Genuity Group increased their target price on InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research note on Wednesday. TD Securities raised 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 research note on Wednesday, November 6th. Scotiabank cut their target price on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating for the company in a research note on Wednesday. Finally, CIBC dropped their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

Shares of IIP.UN stock traded up C$0.08 during trading hours on Wednesday, reaching C$9.98. 232,977 shares of the company’s stock were exchanged, compared to its average volume of 394,966. The company has a market cap of C$1.48 billion, a P/E ratio of -499.00 and a beta of 1.13. The company’s 50 day moving average is C$9.98 and its two-hundred day moving average is C$11.22. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$14.40. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04.

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.