Raymond James 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 objective decreased by research analysts at Raymond James from C$13.00 to C$12.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Raymond James’ price objective would indicate a potential upside of 28.21% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. TD Securities upgraded shares of 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 report on Wednesday, November 6th. Royal Bank of Canada reduced their target price 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Down 1.8 %

Shares of IIP.UN 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. InterRent Real Estate Investment Trust has a 12-month low of C$9.40 and a 12-month 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. The firm 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 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.