InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 12-Month High - Still a Buy?

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$13.79 and last traded at C$13.60, with a volume of 1334051 shares traded. The stock had previously closed at C$11.84.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IIP.UN shares. CIBC increased their price objective on InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a report on Thursday, May 22nd. Canaccord Genuity Group increased 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 report on Wednesday, February 26th. TD Securities cut InterRent Real Estate Investment Trust from a "buy" rating to a "hold" rating and increased their price objective for the stock from C$13.50 to C$14.00 in a report on Wednesday. National Bankshares set a C$13.55 price objective on InterRent Real Estate Investment Trust and gave the stock a "sector perform" rating in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a report on Thursday, May 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$13.41.

InterRent Real Estate Investment Trust Stock Up 0.3%

The company has a 50-day moving average price of C$11.12 and a 200 day moving average price of C$10.54. The firm has a market capitalization of C$2.03 billion, a PE ratio of -685.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04.

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.