InterRent Real Estate Investment Trust (TSE:IIP.UN) Raised 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 research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a C$14.00 price objective on the real estate investment trust’s stock. TD Securities’ price objective suggests a potential upside of 27.85% from the company’s previous close.

A number of other research analysts have also issued reports on IIP.UN. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. BMO Capital Markets dropped their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$14.93.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE IIP.UN opened at C$10.95 on Wednesday. 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 stock has a market cap of C$1.62 billion, a PE ratio of -547.50 and a beta of 1.13. The business has a 50-day moving average price of C$12.29 and a 200 day moving average price of C$12.26. InterRent Real Estate Investment Trust has a 52-week low of C$10.84 and a 52-week high of C$14.50.

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.