InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) short interest update

InterRent Real Estate Investment Trust (OTCMKTS:IIPZF – Get Rating ) had a large decline in short interest during the month of June. On June 30th, there was short interest in 331,000 shares, a decrease 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.

Analysts set new price targets

IIPZF has been the subject of a number of recent research reports. Scotiabank reduced their price objective on shares of InterRent Real Estate Investment Trust from $19.50 to $17.50 in a research report on Wednesday, May 11th. Canaccord Genuity Group lowered their target price on shares of InterRent Real Estate Investment Trust from $18.00 to $17.25 and set a “buy” rating for the company in a report on Wednesday, May 11th. National Bank Financial decreased their target price on shares of InterRent Real Estate Investment Trust from $19.00 to $17.00 in a report on Wednesday, April 27th. Royal Bank of Canada decreased their target price on shares of InterRent Real Estate Investment Trust from $22.00 to $20.00 in a report on Wednesday, May 11th. Finally, TD Securities decreased their target price on shares of InterRent Real Estate Investment Trust from $20.00 to $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 traded hands, 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

(Get rating)

InterRent REIT is a growth-oriented real estate investment trust committed to enhancing 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 demonstrated stable market vacancies, sufficient available suites to achieve the critical mass required to implement an efficient portfolio management structure and provide opportunities for accretive purchases.

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