CIBC Lowers InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$13.50
InterRent Real Estate Investment Trust (TSE:IIP.UN – Get Free Report) had its price objective dropped by investment analysts at CIBC from C$15.00 to C$13.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. CIBC’s price target points to a potential upside of 38.46% from the company’s previous close.
A number of other research firms have also issued reports on IIP.UN. Raymond James reduced their price objective on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada cut their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$13.50.
Read Our Latest Research Report on IIP.UN
InterRent Real Estate Investment Trust Trading Down 1.8 %
TSE:IIP.UN opened at C$9.75 on Wednesday. InterRent Real Estate Investment Trust has a 12-month low of C$9.40 and a 12-month high of C$14.40. The firm has a market capitalization of C$1.44 billion, a P/E ratio of -487.50 and a beta of 1.13. 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 business has a 50 day simple moving average of C$9.97 and a 200 day simple moving average of C$11.20.
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.
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