Today, an analyst has provided a rating update for InterRent REIT Un (IIP.UN). Raymond James’ analyst Ken Avalos reiterates their Buy rating on the shares, with a C$15.50 price target.
Avalos has an average return of 36.3% when recommending InterRent REIT Un.
According to TipRanks.com, Avalos is ranked #679 out of 5220 analysts.
Currently, the analyst consensus on InterRent REIT Un is a Moderate Buy with an average price target of C$14.79, implying a 4.2% upside from current levels. In a report released yesterday, Scotiabank 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 Thursday at C$14.20, close to its 52-week high of C$14.26.
