InterRent Real Estate Investment Trust (TSE:IIP.UN) Upgraded to “Buy” at TD Securities

InterRent Real Estate Investment Trust (TSE:IIP.UN) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a report issued on Wednesday, BayStreet.CA reports. The firm currently has a C$14.00 price target on the real estate investment trust’s stock. TD Securities’ target price points to a potential upside of 27.50% from the company’s current price.

IIP.UN has been the subject of several other research reports. BMO Capital Markets lowered 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. National Bankshares boosted their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$14.93.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE IIP.UN traded down C$0.26 during mid-day trading on Wednesday, hitting C$10.98. 429,584 shares of the stock traded hands, compared to its average volume of 372,185. InterRent Real Estate Investment Trust has a twelve month low of C$10.84 and a twelve month high of C$14.50. The firm has a 50 day simple moving average of C$12.37 and a two-hundred day simple moving average of C$12.27. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The company has a market cap of C$1.62 billion, a PE ratio of -548.00 and a beta of 1.13.

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.