Canaccord Genuity Group Increases InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$12.50

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price raised by equities researchers at Canaccord Genuity Group from C$12.00 to C$12.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Canaccord Genuity Group’s target price indicates a potential upside of 28.21% from the company’s current price.

IIP.UN has been the topic of a number of other research reports. 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 on the stock in a research report on Wednesday, November 6th. Raymond James dropped their price objective on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Wednesday. Scotiabank dropped their price objective on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a report on Wednesday. CIBC dropped their price objective 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 report on Wednesday. Finally, Royal Bank of Canada dropped their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, InterRent Real Estate Investment Trust has a consensus rating of “Moderate Buy” and an average price target of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

Shares of IIP.UN opened at C$9.75 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The stock has a market capitalization of C$1.44 billion, a P/E ratio of -487.50 and a beta of 1.13. The firm’s fifty day simple moving average is C$9.97 and its two-hundred day simple moving average is C$11.20. InterRent Real Estate Investment Trust has a 12 month low of C$9.40 and a 12 month high of C$14.40.

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.