Royal Bank of Canada Has Lowered Expectations for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target cut by stock analysts at Royal Bank of Canada from C$16.50 to C$15.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 36.99% from the company’s current price.

A number of other analysts have also commented on IIP.UN. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a report on Wednesday. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Finally, BMO Capital Markets decreased their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$14.93.

InterRent Real Estate Investment Trust Stock Performance

IIP.UN opened at C$10.95 on Wednesday. The stock has a market capitalization of C$1.62 billion, a P/E ratio of -547.50 and a beta of 1.13. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. InterRent Real Estate Investment Trust has a 12 month low of C$10.84 and a 12 month high of C$14.50. The firm’s fifty day simple moving average is C$12.29 and its 200 day simple moving average is C$12.26.

InterRent Real Estate Investment Trust Company Profile

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.