InterRent Real Estate Investment Trust (TSE:IIP.UN) Trading Up 14.6% – Here’s What Happened

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) were 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. Approximately 5,049,164 shares were traded during trading, an increase of 903% from the average daily volume of 503,408 shares. The stock had previously closed at C$11.84.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price objective on 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. BMO Capital Markets boosted their target price on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research note on Thursday, May 22nd. Canaccord Genuity Group boosted their price objective 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. TD Securities increased their price target on InterRent Real Estate Investment Trust from C$13.00 to C$13.50 and gave the company a “buy” rating in a research note on Thursday, May 22nd. Finally, Raymond James lifted their price target on shares of InterRent Real Estate Investment Trust from C$12.75 to C$13.25 in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, InterRent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average target price of C$13.03.

InterRent Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The business’s fifty day simple moving average is C$11.02 and its 200 day simple moving average is C$10.50. The firm has a market capitalization of C$2.01 billion, a price-to-earnings ratio of -681.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Company Profile

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.