Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is C$19.56.
Several research firms recently commented on IIP.UN. National Bankshares boosted their price objective on shares of Interrent Real Estate Investment Trust from C$20.00 to C$20.25 in a research note on Wednesday, October 20th. Royal Bank of Canada increased their price objective on Interrent Real Estate Investment Trust from C$19.50 to C$21.00 and gave the company an “outperform” rating in a report on Tuesday, November 9th. Scotiabank boosted their target price on Interrent Real Estate Investment Trust from C$19.00 to C$20.00 in a research note on Tuesday, November 9th. Canaccord Genuity increased their price target on Interrent Real Estate Investment Trust from C$15.75 to C$18.50 in a research note on Tuesday, August 10th. Finally, BMO Capital Markets boosted their price target on Interrent Real Estate Investment Trust from C$18.75 to C$20.00 in a research note on Tuesday, November 9th.
IIP.UN traded up C$0.08 on Thursday, hitting C$17.25. The company had a trading volume of 300,732 shares, compared to its average volume of 291,654. The stock has a market capitalization of C$2.40 billion and a price-to-earnings ratio of 7.31. The company has a debt-to-equity ratio of 59.08, a quick ratio of 0.17 and a current ratio of 0.37. The stock has a fifty day moving average price of C$17.49 and a 200-day moving average price of C$17.07. Interrent Real Estate Investment Trust has a 12-month low of C$12.96 and a 12-month high of C$18.64.
In related news, Director Paul Bouzanis sold 70,000 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of C$17.50, for a total transaction of C$1,225,000.00. Following the completion of the transaction, the director now owns 305,829 shares of the company’s stock, valued at C$5,352,007.50.
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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