Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have earned an average recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$16.54.
A number of equities analysts have issued reports on IIP.UN shares. Echelon Wealth Partners reaffirmed a “buy” rating and issued a C$17.50 target price on shares of Interrent Real Estate Investment Trust in a research report on Sunday, October 6th. Royal Bank of Canada raised their price target on shares of Interrent Real Estate Investment Trust from C$15.50 to C$17.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. TD Securities lowered shares of Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$16.50 to C$17.50 in a research note on Tuesday, October 1st. National Bank Financial upped their price target on shares of Interrent Real Estate Investment Trust from C$15.50 to C$16.50 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Finally, Raymond James set a C$18.00 price objective on shares of Interrent Real Estate Investment Trust and gave the company an “outperform” rating in a research note on Wednesday, November 6th.
Shares of TSE:IIP.UN opened at C$15.81 on Wednesday. The business’s 50-day simple moving average is C$15.82 and its 200 day simple moving average is C$15.50. The company has a market cap of $1.92 billion and a P/E ratio of 10.70. The company has a debt-to-equity ratio of 60.07, a quick ratio of 0.02 and a current ratio of 0.06. Interrent Real Estate Investment Trust has a one year low of C$13.06 and a one year high of C$16.61.
In other news, Senior Officer Michael Robert Clancy bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were purchased at an average price of C$15.67 per share, with a total value of C$62,680.00. Following the completion of the acquisition, the insider now directly owns 59,164 shares in the company, valued at C$927,099.88.
About Interrent Real Estate Investment Trust
InterRent REIT is a growth-oriented 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. InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.
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