Royal Bank of Canada Cuts InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$14.50

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective dropped by investment analysts at Royal Bank of Canada from C$15.00 to C$14.50 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 45.29% from the company’s current price.

Several other analysts have also weighed in on the company. Scotiabank reduced their price objective on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research note on Wednesday. Canaccord Genuity Group increased their target price on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James cut their target price 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 research report on Wednesday. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a research report on Wednesday, November 6th. Finally, CIBC cut their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, InterRent Real Estate Investment Trust currently has an average rating of “Moderate Buy” and a consensus price target of C$13.50.

InterRent Real Estate Investment Trust Price Performance

Shares of IIP.UN traded up C$0.08 during trading hours on Wednesday, hitting C$9.98. 232,977 shares of the company were exchanged, 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 company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The firm’s fifty day moving average is C$9.98 and its 200 day moving average is C$11.22.

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.