InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) Short Interest Update
InterRent Real Estate Investment Trust (OTCMKTS:IIPZF – Get Rating) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 331,000 shares, a drop of 47.1% from the June 15th total of 626,200 shares. Based on an average daily trading volume of 300 shares, the days-to-cover ratio is currently 1,103.3 days.
Analyst’s Set New Price Targets
IIPZF has been the subject of a number of recent research reports. Scotiabank reduced their price target on shares in InterRent Real Estate Investment Trust from C$19.50 to C$17.50 in a research report on Wednesday, May 11th. Canaccord Genuity Group cut their target price on shares in InterRent Real Estate Investment Trust from C$18.00 to C$17.25 and set a “buy” rating for the company in a report on Wednesday, May 11th. National Bank Financial cut their target price on shares in InterRent Real Estate Investment Trust from C$19.00 to C$17.00 in a report on Wednesday, April 27th. Royal Bank of Canada cut their target price on shares in InterRent Real Estate Investment Trust from C$22.00 to C$20.00 in a report on Wednesday, May 11th. Finally, TD Securities cut their target price on shares of InterRent Real Estate Investment Trust from C$20.00 to C$18.00 in a report on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.73.
InterRent Real Estate Investment Trust Price Performance
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Shares of IIPZF traded down $0.35 during mid-day trading on Friday, hitting $8.90. 200 shares of the company were exchanged, compared to its average volume of 113. InterRent Real Estate Investment Trust has a 1-year low of $8.90 and a 1-year high of $14.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.17 and a current ratio of 0.17. The company has a 50-day moving average of $9.89 and a 200-day moving average of $11.55. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 4.60 and a beta of 0.48.
InterRent Real Estate Investment Trust Company Profile
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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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