13:59:10 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



InterRent Real Estate Investment Trust
Symbol IIP
Shares Issued 140,281,438
Close 2022-03-29 C$ 16.45
Market Cap C$ 2,307,629,655
Recent Sedar Documents

Globe says InterRent REIT called a "must-own name"

2022-03-29 08:31 ET - In the News

The Globe and Mail reports in its Tuesday, March 29, edition that iA Capital Markets analyst Johann Rodrigues has resumed coverage on InterRent REIT with a "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Rodrigues set his unit target at $20. Analysts on average target the units at $19.71. Mr. Rodrigues says in a note: "InterRent's impressive outperformance is not simply a historical story, the REIT is poised to put up growth that also leads the Canadian-based multi-family group going forward. Over the next two years, InterRent should generate an average of 5-per-cent SPNOI growth, 13-per-cent FFO per unit growth, and 8-per-cent NAV per unit growth, all almost double the peer average. Given that, the stock should outperform, and a stock that outperforms its multi-family peers (when we think the asset class should outperform broader REITs) is a must-own name to us." The Globe reported on Aug. 11, 2021, and March 10, 2022, that Desjardins Securities analyst Michael Markidis had reiterated his "buy" call for InterRent when the units could be had for $17.42 and $16.47. The Globe's Number Cruncher column recommended InterRent on Sept. 2 when it was worth $17.68.

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