InterRent Real Estate Investment Trust Receives Upgraded Rating

Canaccord Genuity Group has raised the rating of InterRent Real Estate Investment Trust (OTCMKTS:IIPZF) from a hold to a strong-buy, as indicated in a recent report published on Tuesday.

Stock Performance

As of Tuesday, InterRent's shares opened at $7.73. Over the past year, the stock has reached a low of $7.73 and a high of $10.14. The company's financial metrics include a debt-to-equity ratio of 0.64, a current ratio of 2.14, and a quick ratio also at 2.14. Currently, the 50-day simple moving average for the stock stands at $9.19, while the 200-day simple moving average is at $9.06. The market capitalization of InterRent is approximately $1.12 billion, with a price-to-earnings ratio of -70.27 and a beta of 0.76, indicating lower volatility compared to the overall market.

Company Overview

InterRent REIT is focused on growth and aims to maximize value for its unitholders while providing sustainable distributions. The company pursues this goal through acquiring and managing multi-residential properties. InterRent's strategy includes expanding its portfolio mainly in markets that demonstrate stable vacancy rates and have sufficient properties available to achieve critical mass for effective portfolio management. The company also seeks opportunities for profitable acquisitions that will drive further growth.

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