Interrent Real Estate Investment Trust (IIP.UN) Upgraded to Outperform at Royal Bank of Canada

Interrent Real Estate Investment Trust (TSE:IIP.UN) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a note issued to investors on Wednesday. The brokerage presently has a C$10.00 target price on the real estate investment trust’s stock, up from their prior target price of C$9.50. Royal Bank of Canada’s price target suggests a potential upside of 12.23% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. CIBC boosted their target price on shares of Interrent Real Estate Investment Trust from C$8.50 to C$9.00 in a research report on Wednesday, November 15th. TD Securities boosted their target price on shares of Interrent Real Estate Investment Trust from C$9.00 to C$10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Canaccord Genuity boosted their target price on shares of Interrent Real Estate Investment Trust from C$9.50 to C$10.50 in a research report on Wednesday, November 15th. Desjardins dropped their target price on shares of Interrent Real Estate Investment Trust from C$10.00 to C$9.00 in a research report on Wednesday, November 15th. Finally, Scotiabank boosted their target price on shares of Interrent Real Estate Investment Trust from C$8.25 to C$9.10 and gave the stock a “sector perform” rating in a research report on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of C$9.54.

Shares of Interrent Real Estate Investment Trust (TSE IIP.UN) traded up C$0.09 during mid-day trading on Wednesday, reaching C$8.91. 74,415 shares of the company’s stock were exchanged, compared to its average volume of 153,454. Interrent Real Estate Investment Trust has a 52-week low of C$7.31 and a 52-week high of C$9.77. The firm has a market cap of $746.96, a price-to-earnings ratio of 4.14 and a beta of 0.38.

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Interrent Real Estate Investment Trust Company Profile

InterRent Real Estate Investment Trust is a real estate investment trust focused on acquisition, holding, leasing or managing of multi-unit residential properties and real estate ventures. Its portfolio consists of approximately 70 Properties containing over 8,050 suites. Approximately 2,980 suites are located in mid-sized population markets, with the remaining 5,075 suites located in the Greater Toronto Area (GTA), Montreal and the National Capital Region (NCR).

Analyst Recommendations for Interrent Real Estate Investment Trust (TSE:IIP.UN)

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