InterRent Real Estate Investment Trust (OTCMKTS:IIPZF – Get a rating) was the target of a significant increase in short interest in the month of December. As of December 15, there was short interest totaling 178,100 shares, a 27.5% increase from the total of 139,700 shares as of November 30. Based on an average trading volume of 300 shares, the day-to-cover ratio is currently 593.7 days.
Wall Street analysts predict growth
IIPZF has been the subject of a number of recent research reports. BMO Capital Markets lowered its price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.50 in a Monday, November 14 research report. Royal Bank of Canada reduced its price target on shares of InterRent Real Estate Investment Trust from C$18.00 to C$16.50 in a Monday, November 14 research note. Raymond James upgraded shares of InterRent Real Estate Investment Trust from an “outperform” rating to a “strong buy” rating in a Wednesday, December 7 research note. Finally, Scotiabank reduced its price target on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.50 in a Friday, November 4 research note.
InterRent Real Estate Investment Trust trades up 0.2%
IIPZF opened at $9.47 on Friday. The company’s 50-day moving average is $9.04 and its 200-day moving average is $9.27. InterRent Real Estate Investment Trust has a 1 year minimum of $8.06 and a 1 year maximum of $13.29. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt ratio of 0.63. The company has a market capitalization of $1.34 billion, a P/E ratio of 22.24 and a beta of 0.65.
Company Profile InterRent Real Estate Investment Trust
InterRent REIT is a growth-oriented real estate investment trust committed to increasing unitholder value and creating growing and sustainable distribution through the acquisition and ownership of multi-residential properties. InterRent’s strategy is to expand its portfolio primarily in markets that have shown stable vacancies, enough suites available to achieve the critical mass needed to implement an effective portfolio management structure and provide opportunities for acquisitions accretive.
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