InterRent Real Estate Investment Trust (TSE:IIP.UN) Trading 14.8% Higher - Here's Why

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) shares were up 14.8% on Tuesday . The company traded as high as C$13.79 and last traded at C$13.59. Approximately 5,924,543 shares traded hands during mid-day trading, an increase of 1,058% from the average daily volume of 511,706 shares. The stock had previously closed at C$11.84.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IIP.UN. Royal Bank of Canada lowered their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Scotiabank lowered 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 research report on Wednesday, February 26th. Raymond James upped their price target on InterRent Real Estate Investment Trust from C$12.75 to C$13.25 in a research note on Thursday, May 22nd. Canaccord Genuity Group raised 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. Finally, CIBC boosted their target price on InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$13.03.

InterRent Real Estate Investment Trust Trading Up 15.0%

The firm has a fifty day moving average of C$11.02 and a 200-day moving average of C$10.50. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The stock has a market capitalization of C$2.01 billion, a price-to-earnings ratio of -681.00 and a beta of 1.13.

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.

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