Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$15.75 at Raymond James

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price dropped by equities research analysts at Raymond James from C$16.25 to C$15.75 in a research note issued on Wednesday, BayStreet.CA reports. The firm presently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target points to a potential upside of 30.27% from the company’s current price.

Several other research firms have also recently issued reports on IIP.UN. Scotiabank lowered their price objective on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating on the stock in a report on Monday, March 25th. BMO Capital Markets boosted their price target on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. Laurentian set a C$15.00 price objective on Interrent Real Estate Investment Trust and gave the company a “buy” rating in a report on Monday, January 22nd. CIBC upped their target price on shares of Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Veritas Investment Research reissued a “reduce” rating on shares of Interrent Real Estate Investment Trust in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Interrent Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average price target of C$15.05.

Interrent Real Estate Investment Trust Price Performance

IIP.UN traded down C$0.17 during midday trading on Wednesday, hitting C$12.09. 163,459 shares of the company traded hands, compared to its average volume of 350,991. The business has a 50 day simple moving average of C$13.42 and a two-hundred day simple moving average of C$12.99. Interrent Real Estate Investment Trust has a 52-week low of C$11.43 and a 52-week high of C$14.50. The company has a market capitalization of C$1.75 billion, a price-to-earnings ratio of 18.91 and a beta of 1.08. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88.

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.