InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$12.25 at Scotiabank

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price cut by Scotiabank from C$12.50 to C$12.25 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 22.75% from the stock’s current price.

A number of other analysts have also recently weighed in on IIP.UN. Royal Bank of Canada reduced their target price on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. CIBC decreased their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research report on Wednesday. Raymond James reduced their price objective on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a report on Wednesday. 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, November 6th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.8 %

Shares of InterRent Real Estate Investment Trust stock traded up C$0.08 during trading on Wednesday, reaching C$9.98. The company had a trading volume of 232,977 shares, compared to its average volume of 394,966. The company has a market cap of C$1.48 billion, a price-to-earnings ratio of -499.00 and a beta of 1.13. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.40 and a fifty-two week high of C$14.40. The firm’s fifty day moving average is C$9.98 and its 200-day 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.

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.