Interrent Real Estate Investment Trust (TSE:IIP.UN) Given New C$18.50 Price Target at CIBC

Interrent Real Estate Investment Trust (TSE:IIP.UN – Get Rating) had its price objective trimmed by CIBC from C$19.50 to C$18.50 in a research report report published on Wednesday morning, BayStreet.CA reports.

Several other brokerages have also commented on IIP.UN. Scotiabank reduced their price objective on Interrent Real Estate Investment Trust from C$20.00 to C$19.50 in a research report on Wednesday. TD Securities reduced their price objective on Interrent Real Estate Investment Trust from C$21.00 to C$20.00 and set a buy rating on the stock in a research report on Wednesday. BMO Capital Markets increased their price objective on Interrent Real Estate Investment Trust from C$18.75 to C$20.00 in a research report on Tuesday, November 9th. Raymond James set a C$20.25 price objective on Interrent Real Estate Investment Trust and gave the company an outperform rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price objective on Interrent Real Estate Investment Trust from C$21.00 to C$22.00 and gave the company an outperform rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Interrent Real Estate Investment Trust currently has an average rating of Buy and a consensus price target of C$19.41.

Shares of TSE IIP.UN opened at C$16.47 on Wednesday. The firm has a market capitalization of C$2.30 billion and a P/E ratio of 6.98. The company has a quick ratio of 0.17, a current ratio of 0.37 and a debt-to-equity ratio of 59.08. The stock’s 50-day simple moving average is C$16.07 and its two-hundred day simple moving average is C$16.86. Interrent Real Estate Investment Trust has a twelve month low of C$14.04 and a twelve month high of C$18.64.

In other Interrent Real Estate Investment Trust news, Senior Officer David Nevins sold 34,395 shares of the stock in a transaction that occurred on Wednesday, December 22nd. The stock was sold at an average price of C$16.89, for a total value of C$580,931.55. Following the completion of the sale, the insider now owns 263,578 shares in the company, valued at approximately C$4,451,832.42.

Interrent Real Estate Investment Trust Company Profile (Get Rating)

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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