InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Rating Lowered by Desjardins

Key Points

• Desjardins has downgraded InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating, setting a target price of C$13.55.
• Royal Bank of Canada and other analysts have also adjusted their ratings, reflecting a range of target prices, with the average target for InterRent at C$13.27.
• The stock is currently trading at C$13.21, showing a slight decline, with a 52-week high of C$13.80 and a low of C$9.40.

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) was downgraded by research analysts at Desjardins from a "hold" rating to a "sell" rating in a research report issued on Monday,BayStreet.CA reports. They currently have a C$13.55 target price on the real estate investment trust's stock. Desjardins' target price would indicate a potential upside of 2.57% from the company's previous close.

A number of other analysts also recently weighed in on IIP.UN. BMO Capital Markets upped their target price on InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. CIBC upped their price objective on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research report on Thursday, May 22nd. Raymond James Financial downgraded shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from C$13.25 to C$14.00 in a research note on Wednesday, May 28th. TD Securities cut shares of InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating and dropped their target price for the company from C$14.00 to C$13.55 in a research report on Monday, July 14th. Finally, Royal Bank Of Canada downgraded shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from C$14.50 to C$13.55 in a report on Monday, June 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, InterRent Real Estate Investment Trust presently has an average rating of "Hold" and an average target price of C$13.27.

InterRent Real Estate Investment Trust Price Performance

TSE:IIP.UN traded up C$0.02 during trading hours on Monday, reaching C$13.21. 902,022 shares of the company were exchanged, compared to its average volume of 697,347. The business has a 50 day moving average of C$13.41 and a 200 day moving average of C$11.69. InterRent Real Estate Investment Trust has a 1-year low of C$9.40 and a 1-year high of C$13.80. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The company has a market capitalization of C$1.95 billion, a P/E ratio of -660.50 and a beta of 1.13.

About InterRent Real Estate Investment Trust

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.