Short Interest in InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) Rises By 170.4%

InterRent Real Estate Investment Trust (OTCMKTS:IIPZFGet Rating) saw a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 481,500 shares, a growth of 170.4% from the December 15th total of 178,100 shares. Based on an average daily volume of 500 shares, the days-to-cover ratio is currently 963.0 days.

InterRent Real Estate Investment Trust Price Performance

Shares of InterRent Real Estate Investment Trust stock opened at $9.47 on Friday. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 5.67 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50 day moving average price of $9.32 and a 200-day moving average price of $9.28. InterRent Real Estate Investment Trust has a one year low of $8.06 and a one year high of $13.05.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IIPZF shares. Scotiabank decreased their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.50 in a research note on Friday, November 4th. Royal Bank of Canada decreased their target price on InterRent Real Estate Investment Trust from C$18.00 to C$16.50 in a research note on Monday, November 14th. Raymond James raised InterRent Real Estate Investment Trust from an “outperform” rating to a “strong-buy” rating in a research note on Wednesday, December 7th. Finally, BMO Capital Markets reduced their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.50 in a research note on Monday, November 14th.

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.

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