TD Securities Downgrades InterRent Real Estate Investment Trust (TSE:IIP.UN) to Sell

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) was downgraded by stock analysts at TD Securities from a "hold" rating to a "sell" rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a C$13.55 target price on the real estate investment trust's stock, down from their prior target price of C$14.00. TD Securities' price objective indicates a potential upside of 1.42% from the stock's current price.

Several other research firms have also recently weighed in on IIP.UN. CIBC increased 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. National Bankshares set a C$13.55 price target on shares of InterRent Real Estate Investment Trust and gave the company a "sector perform" rating in a research report on Wednesday, May 28th. BMO Capital Markets boosted their price target on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a report on Thursday, May 22nd. Raymond James Financial lowered shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from C$13.25 to C$14.00 in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada lowered shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$14.50 to C$13.55 in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$13.24.

InterRent Real Estate Investment Trust Price Performance

TSE:IIP.UN traded up C$0.01 on Monday, hitting C$13.36. The company had a trading volume of 775,062 shares, compared to its average volume of 616,120. The stock has a market capitalization of C$1.98 billion, a price-to-earnings ratio of -668.00 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. The firm has a 50 day moving average of C$12.88 and a two-hundred day moving average of C$11.21. InterRent Real Estate Investment Trust has a 52 week low of C$9.40 and a 52 week high of C$13.80.

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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