Royal Bank of Canada 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 dropped by equities research analysts at Royal Bank of Canada from C$15.00 to C$14.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 48.72% from the stock’s current price.

Several other research analysts also recently issued reports on IIP.UN. 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 on the stock in a research note on Wednesday, November 6th. Raymond James dropped their target price 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 research note on Wednesday. CIBC lowered 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 research report on Wednesday. Scotiabank lowered 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 research report on Wednesday. Finally, Canaccord Genuity Group increased their price objective on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a “buy” rating 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, 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 Trading Down 1.8 %

Shares of TSE IIP.UN opened at C$9.75 on Wednesday. The firm’s 50 day moving average price is C$9.97 and its 200-day moving average price is C$11.20. The company has a market cap of C$1.44 billion, a PE ratio of -487.50 and a beta of 1.13. 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 debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

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.