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

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

Several other research firms have also weighed in on IIP.UN. Royal Bank of Canada dropped their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. 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 objective on the stock in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, InterRent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of C$13.50.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE IIP.UN traded up C$0.08 during mid-day trading on Wednesday, hitting C$9.98. 232,977 shares of the 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 stock’s fifty day simple moving average is C$9.98 and its two-hundred day simple 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. InterRent Real Estate Investment Trust has a twelve month low of C$9.40 and a twelve month high of C$14.40.

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.