Raymond James Lowers Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$15.75

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price reduced by research analysts at Raymond James from C$16.25 to C$15.75 in a report released on Wednesday, BayStreet.CA reports. The firm currently has a “strong-buy” rating on the real estate investment trust’s stock. Raymond James’ price target would indicate a potential upside of 29.84% from the stock’s current price.

Several other brokerages also recently commented on IIP.UN. National Bankshares dropped their price target on Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets lifted their price target on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. Laurentian set a C$15.00 price target on Interrent Real Estate Investment Trust and gave the stock a “buy” rating in a research report on Monday, January 22nd. Veritas Investment Research reaffirmed a “reduce” rating on shares of Interrent Real Estate Investment Trust in a research report on Friday, March 1st. Finally, Scotiabank dropped their price target on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating on the stock in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$15.05.

Interrent Real Estate Investment Trust Stock Down 0.2 %

IIP.UN opened at C$12.13 on Wednesday. The business has a 50 day moving average price of C$13.36 and a 200 day moving average price of C$12.97. Interrent Real Estate Investment Trust has a twelve month low of C$11.43 and a twelve month high of C$14.50. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.04 and a current ratio of 0.14. The firm has a market cap of C$1.76 billion, a P/E ratio of 18.95 and a beta of 1.08.

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.