Stocks

Canaccord Genuity Upgrades InterRent Real Estate Investment Trust to Strong-Buy

Published November 9, 2024

Canaccord Genuity Group has recently raised the rating of InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) from a hold to a strong-buy in a report released on Tuesday, as noted by Zacks.com.

Current Stock Performance of InterRent REIT

On Tuesday, shares of IIPZF began trading at $7.73. Over the past year, the stock has reached a low of $7.73 and a high of $10.14. Analyzing the company’s financial ratios, it has a debt-to-equity ratio of 0.64, along with both a current and quick ratio of 2.14. The average price over the last 50 days stands at $9.19, while the 200-day average is slightly lower at $9.06. InterRent carries a market capitalization of approximately $1.12 billion and shows a price-to-earnings ratio of -70.27, with a beta of 0.76, indicating its lower volatility compared to the market.

Understanding InterRent Real Estate Investment Trust

InterRent REIT is a real estate investment trust that focuses on growth. Its mission is to enhance unitholder value by acquiring and managing multi-residential properties. The company aims to grow its portfolio primarily in markets characterized by stable vacancy rates, adequate housing availability to achieve critical operational efficiency, and opportunities for beneficial acquisitions.

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InterRent, RealEstate, Stocks