Scotiabank Lowers InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$12.25

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price dropped by equities research analysts at Scotiabank from C$12.50 to C$12.25 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 25.64% from the stock’s previous close.

A number of other equities research analysts have also commented on IIP.UN. Royal Bank of Canada decreased their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. Raymond James decreased their price target on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research report on Wednesday. CIBC decreased their price target on 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. Finally, TD Securities upgraded 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. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Trading Down 1.8 %

IIP.UN stock opened at C$9.75 on Wednesday. InterRent Real Estate Investment Trust has a 1-year low of C$9.40 and a 1-year high of C$14.40. The firm has a market cap of C$1.44 billion, a P/E ratio of -487.50 and a beta of 1.13. The business’s 50 day moving average is C$9.97 and its 200-day moving average is C$11.20. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59.

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.