InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) Sees Significant Growth in Short Interest
InterRent Real Estate Investment Trust (OTCMKTS:IIPZF – Get Rating) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 197,100 shares, an increase of 22.2% from the March 15th total of 161,300 shares. Based on an average trading volume of 400 shares, the days-to-cover ratio is currently 492.8 days.
Several analysts have issued reports on IIPZF shares. BMO Capital Markets upped their price objective on InterRent Real Estate Investment Trust from C$20.00 to C$20.25 in a research note on Wednesday, March 9th. Desjardins cut their price objective on InterRent Real Estate Investment Trust from C$21.00 to C$20.00 in a research note on Thursday, March 10th. TD Securities cut their price objective on InterRent Real Estate Investment Trust from C$21.00 to C$20.00 in a research note on Wednesday, March 9th. Royal Bank of Canada upped their price objective on InterRent Real Estate Investment Trust from C$21.00 to C$22.00 in a research note on Wednesday, March 9th. Finally, Scotiabank cut their price objective on InterRent Real Estate Investment Trust from C$20.00 to C$19.50 in a research note on Wednesday, March 9th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $19.75.
Shares of OTCMKTS:IIPZF traded up $0.07 during trading on Tuesday, hitting $11.97. 1,000 shares of the company traded hands, compared to its average volume of 929. InterRent Real Estate Investment Trust has a one year low of $11.61 and a one year high of $14.82. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 5.78 and a beta of 0.33. The business’s fifty-day moving average is $12.53 and its 200-day moving average is $13.09. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.57.
InterRent Real Estate Investment Trust Company Profile (Get Rating)
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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