Interrent Real Estate Investment Trust (TSE:IIP.UN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Interrent Real Estate Investment Trust (TSE:IIP.UN – Get Rating) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$15.91.

IIP.UN has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on Interrent Real Estate Investment Trust from C$16.50 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, March 8th. National Bankshares lifted their price objective on Interrent Real Estate Investment Trust from C$15.75 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 8th. TD Securities cut Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$14.50 to C$16.00 in a research note on Wednesday, March 8th. Canaccord Genuity Group cut Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating and lifted their price objective for the stock from C$15.50 to C$15.75 in a research note on Wednesday, March 8th. Finally, BMO Capital Markets boosted their target price on Interrent Real Estate Investment Trust from C$14.50 to C$15.50 in a research note on Wednesday, March 8th.

Interrent Real Estate Investment Trust Price Performance

Shares of TSE:IIP.UN opened at C$13.38 on Monday. Interrent Real Estate Investment Trust has a 1-year low of C$10.79 and a 1-year high of C$15.13. The firm has a market capitalization of C$1.91 billion, a PE ratio of 21.24 and a beta of 0.99. The business’s 50 day moving average is C$13.14 and its 200-day moving average is C$13.30. The company has a current ratio of 0.16, a quick ratio of 0.04 and a debt-to-equity ratio of 68.07.

About Interrent Real Estate Investment Trust

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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.