InterRent Real Estate Investment Trust (TSE:IIP.UN) Lowered to Hold Rating by TD Securities

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) was downgraded by equities research analysts at TD Securities from a "buy" rating to a "hold" rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$14.00 price target on the real estate investment trust's stock, up from their previous price target of C$13.50. TD Securities' target price indicates a potential upside of 2.49% from the company's previous close.

Several other brokerages have also recently weighed in on IIP.UN. Canaccord Genuity Group boosted their price target on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Scotiabank reduced their target price 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. CIBC raised their target price on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a report on Thursday, May 22nd. BMO Capital Markets increased their target price on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. Finally, National Bankshares lowered shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from C$12.25 to C$11.75 in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$13.41.

InterRent Real Estate Investment Trust Stock Up 0.5%

Shares of IIP.UN traded up C$0.07 during midday trading on Wednesday, hitting C$13.66. 2,306,762 shares of the company's stock traded hands, compared to its average volume of 552,701. The firm's fifty day moving average is C$11.07 and its 200-day moving average is C$10.52. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$13.79. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -683.00 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.

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.

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