CIBC Cuts InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$13.50

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective cut by stock analysts at CIBC from C$15.00 to C$13.50 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. CIBC’s target price indicates a potential upside of 35.27% from the stock’s current price.

Other research analysts have also issued research reports about the company. TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Wednesday, November 6th. Raymond James cut their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.8 %

Shares of IIP.UN traded up C$0.08 during trading hours on Wednesday, reaching C$9.98. The stock had a trading volume of 232,977 shares, compared to its average volume of 394,966. 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 simple moving average of C$9.98 and a 200 day simple moving average of C$11.22. InterRent Real Estate Investment Trust has a 12 month low of C$9.40 and a 12 month high of C$14.40. The company has a market capitalization of C$1.48 billion, a price-to-earnings ratio of -499.00 and a beta of 1.13.

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.