TD Securities Upgrades InterRent Real Estate Investment Trust (TSE:IIP.UN) to Buy

InterRent Real Estate Investment Trust (TSE:IIP.UN) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The firm currently has a C$14.00 target price on the real estate investment trust’s stock. TD Securities’ target price would suggest a potential upside of 27.50% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. National Bankshares upped their price objective on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. BMO Capital Markets lowered their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, InterRent Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$14.93.

InterRent Real Estate Investment Trust Trading Down 2.3 %

Shares of TSE:IIP.UN traded down C$0.26 during trading on Wednesday, reaching C$10.98. 429,584 shares of the company traded hands, compared to its average volume of 372,185. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. InterRent Real Estate Investment Trust has a 52-week low of C$10.84 and a 52-week high of C$14.50. The firm has a market capitalization of C$1.62 billion, a price-to-earnings ratio of -548.00 and a beta of 1.13. The business’s fifty day moving average is C$12.37 and its 200-day moving average is C$12.27.

InterRent Real Estate Investment Trust Company Profile

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.