InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Up 14.6% – Still a Buy?

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price traded up 14.6% during mid-day trading on Tuesday . The company traded as high as C$13.79 and last traded at C$13.57. 5,049,164 shares changed hands during mid-day trading, an increase of 903% from the average session volume of 503,408 shares. The stock had previously closed at C$11.84.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IIP.UN shares. Royal Bank of Canada dropped their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Canaccord Genuity Group boosted 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 report on Wednesday, February 26th. BMO Capital Markets lifted their price target on InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. Scotiabank cut their price objective on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Raymond James raised their price objective on shares of InterRent Real Estate Investment Trust from C$12.75 to C$13.25 in a research note on Thursday, May 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$13.03.

InterRent Real Estate Investment Trust Trading Up 15.0%

The firm has a market cap of C$2.01 billion, a P/E ratio of -681.00 and a beta of 1.13. The stock has a 50 day simple moving average of C$11.02 and a 200-day simple moving average of C$10.50. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59.

About InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.