InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

InterRent Real Estate Investment Trust (TSE:IIP.UN) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$10.63 and traded as high as C$11.34. InterRent Real Estate Investment Trust shares last traded at C$11.20, with a volume of 259,022 shares.

Analyst Ratings Changes

A number of analysts recently commented on the company. National Bankshares downgraded InterRent Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from C$12.25 to C$11.75 in a research report on Monday, April 14th. Canaccord Genuity Group lifted their target price on InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. CIBC lowered their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank dropped their target price on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$13.13.

InterRent Real Estate Investment Trust Price Performance

The firm has a market cap of C$1.66 billion, a P/E ratio of -560.00 and a beta of 1.13. The business’s fifty day simple moving average is C$10.63 and its 200-day simple moving average is C$10.53. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59.

About InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.