CIBC Issues Pessimistic Forecast for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target cut by analysts at CIBC from C$15.00 to C$13.50 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. CIBC’s target price indicates a potential upside of 38.46% from the stock’s previous close.

Several other equities analysts have also commented on IIP.UN. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research note on Wednesday, November 6th. Royal Bank of Canada dropped their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. Finally, Raymond James dropped their price target 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 note on Wednesday. One investment 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.com, InterRent Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

InterRent Real Estate Investment Trust stock opened at C$9.75 on Wednesday. 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 stock has a fifty day moving average price of C$9.97 and a 200 day moving average price of C$11.20. InterRent Real Estate Investment Trust has a 52 week low of C$9.40 and a 52 week high of C$14.40. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59.

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.