Inovalis Real Estate Investment Trust (TSE:INO.UN) Upgraded to Buy by Canaccord Genuity Group

Inovalis Real Estate Investment Trust (TSE:INO.UN – Get Rating) was upgraded by Canaccord Genuity Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has a C$5.00 price target on the stock, down from their previous price target of C$7.00. Canaccord Genuity Group’s price objective suggests a potential upside of 10.13% from the stock’s previous close.

A number of other research analysts have also commented on the company. National Bankshares lowered their price target on Inovalis Real Estate Investment Trust from C$7.25 to C$6.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 17th. BMO Capital Markets cut their target price on Inovalis Real Estate Investment Trust from C$7.65 to C$5.25 in a research report on Wednesday, August 17th.

Inovalis Real Estate Investment Trust Price Performance

Inovalis Real Estate Investment Trust stock traded up C$0.02 during mid-day trading on Wednesday, reaching C$4.54. The company had a trading volume of 37,889 shares, compared to its average volume of 134,642. The company has a debt-to-equity ratio of 81.47, a current ratio of 0.40 and a quick ratio of 0.32. The stock’s 50-day simple moving average is C$6.18 and its 200-day simple moving average is C$7.63. Inovalis Real Estate Investment Trust has a 1 year low of C$4.32 and a 1 year high of C$10.43. The company has a market capitalization of C$147.48 million and a P/E ratio of 23.89.

Insider Activity at Inovalis Real Estate Investment Trust

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In related news, Director Marc Manasterski acquired 12,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were bought at an average cost of C$4.50 per share, for a total transaction of C$54,000.00. Following the purchase, the director now owns 12,000 shares in the company, valued at approximately C$54,000.

Inovalis Real Estate Investment Trust Company Profile

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Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning office properties primarily located in France and Germany but also opportunistically in other European countries where assets meet the REIT’s investment criteria.

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