InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price Up 14.6% – What’s Next?

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price shot up 14.6% during mid-day trading on Tuesday . The company traded as high as C$13.79 and last traded at C$13.57. 2,267,751 shares were traded during trading, an increase of 392% from the average session volume of 461,079 shares. The stock had previously closed at C$11.84.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Securities lifted their price objective on shares of InterRent Real Estate Investment Trust from C$13.00 to C$13.50 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Raymond James upped their price target on InterRent Real Estate Investment Trust from C$12.75 to C$13.25 in a research report on Thursday, May 22nd. CIBC upped their price objective on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a report on Thursday, May 22nd. Royal Bank of Canada cut their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, BMO Capital Markets raised their price objective on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$13.03.

InterRent Real Estate Investment Trust Stock Performance

The firm has a market capitalization of C$2.01 billion, a P/E ratio of -680.00 and a beta of 1.13. The company has a 50-day simple moving average of C$11.02 and a two-hundred day simple moving average of C$10.50. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

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.