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 target dropped by equities research analysts at Royal Bank of Canada from C$16.50 to C$15.00 in a research report issued on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 36.99% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective on the stock in a research note on Wednesday. BMO Capital Markets lowered their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Finally, National Bankshares boosted their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$14.93.

InterRent Real Estate Investment Trust Price Performance

TSE:IIP.UN opened at C$10.95 on Wednesday. InterRent Real Estate Investment Trust has a 52 week low of C$10.84 and a 52 week high of C$14.50. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The company has a 50-day moving average of C$12.29 and a 200-day moving average of C$12.26. The company has a market capitalization of C$1.62 billion, a price-to-earnings ratio of -547.50 and a beta of 1.13.

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.