In a latest note to investors, a research analyst has provided a rating update for the Financial sector company, InterRent REIT Un (IIP.UN). On February 26, analyst Mark Rothschild gave a Buy rating to IIP.UN and set a C$15 price target.
According to TipRanks.com, Rothschild is a 5-star analyst with an average return of 7.3% and a 71.4% success rate. Rothschild covers the Financial sector, focusing on stocks such as Choice Properties Real Estate Investment Trust, RioCan Real Estate Investment Trust, and Summit Industrial Income REIT.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for InterRent REIT Un with a C$14.07 average price target, a 1.2% upside from current levels. In a report issued on February 26, Desjardins also reiterated a Buy rating on the stock with a C$15 price target.
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Based on InterRent REIT Un’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$42.19 million. In comparison, last year the company had a net profit of C$42.35 million.
InterRent Real Estate Investment Trust engages in the acquisition and ownership of properties. It focuses on investment in residential multi-family producing properties and possession of additional and accretive properties. The company was founded on October 10, 2006 and is headquartered in Ottawa, Canada.
The company’s shares closed on Wednesday at C$13.91, close to its 52-week high of C$14.26.
