Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Cut to C$16.50

Interrent Real Estate Investment Trust (TSE:IIP.UNGet Rating) had its price target dropped by investment analysts at Royal Bank of Canada from C$18.00 to C$16.50 in a note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 31.26% from the company’s current price.

Several other research analysts have also weighed in on IIP.UN. National Bankshares lifted their price objective on shares of Interrent Real Estate Investment Trust from C$13.25 to C$14.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 10th. CIBC reduced their price objective on shares of Interrent Real Estate Investment Trust from C$15.50 to C$15.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 10th. Scotiabank reduced their price objective on shares of Interrent Real Estate Investment Trust from C$16.75 to C$16.50 in a research note on Wednesday, August 10th. Finally, Raymond James reduced their price objective on shares of Interrent Real Estate Investment Trust from C$18.25 to C$16.25 and set an “outperform” rating on the stock in a research note on Friday, August 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$15.88.

Interrent Real Estate Investment Trust Stock Up 0.9 %

Shares of TSE IIP.UN opened at C$12.57 on Friday. The firm has a market capitalization of C$1.77 billion and a PE ratio of 4.71. The company has a current ratio of 0.10, a quick ratio of 0.03 and a debt-to-equity ratio of 64.59. Interrent Real Estate Investment Trust has a 1 year low of C$10.79 and a 1 year high of C$17.70. The firm’s 50-day moving average is C$11.68 and its 200-day moving average is C$12.41.

Interrent Real Estate Investment Trust Company Profile

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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.

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