CIBC Forecasts Strong Price Appreciation for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price raised by research analysts at CIBC from C$13.50 to C$14.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 19.97% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Canaccord Genuity Group raised their price objective on InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. TD Securities increased their target price on shares of InterRent Real Estate Investment Trust from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research note on Thursday. Raymond James lifted their price target on shares of InterRent Real Estate Investment Trust from C$12.75 to C$13.25 in a research report on Thursday. Scotiabank decreased their price objective on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.03.

InterRent Real Estate Investment Trust Price Performance

TSE:IIP.UN opened at C$11.67 on Thursday. InterRent Real Estate Investment Trust has a 52 week low of C$9.40 and a 52 week high of C$13.20. The stock’s fifty day moving average is C$11.00 and its two-hundred day moving average is C$10.50. The company has a market capitalization of C$1.73 billion, a P/E ratio of -583.50 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59.

InterRent Real Estate Investment Trust Company Profile

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.