InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Pass Above Fifty Day Moving Average - Time to Sell?

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$11.35 and traded as high as C$13.64. InterRent Real Estate Investment Trust shares last traded at C$13.60, with a volume of 1,031,957 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Scotiabank reduced their price target on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an "outperform" rating for the company in a report on Wednesday, February 26th. TD Securities cut InterRent Real Estate Investment Trust from a "buy" rating to a "hold" rating and raised their price objective for the company from C$13.50 to C$14.00 in a research report on Wednesday, May 28th. Canaccord Genuity Group boosted their target price 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. Royal Bank of Canada dropped their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, CIBC lifted 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$13.41.

InterRent Real Estate Investment Trust Stock Down 0.4%

The firm has a 50 day simple moving average of C$11.40 and a two-hundred day simple moving average of C$10.65. The stock has a market capitalization of C$2.00 billion, a P/E ratio of -677.50 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.

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.