22:49:48 EST Wed 06 Dec 2023
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or Name

InterRent Real Estate Investment Trust
Symbol IIP
Shares Issued 141,132,908
Close 2022-11-15 C$ 12.25
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Globe says InterRent REIT maintained at "outperform"

2022-11-15 08:50 ET - In the News

The Globe and Mail reports in its Tuesday, Nov. 15, edition that RBC Capital Markets analyst Jimmy Shan is sticking with his "outperform" call on InterRent REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shan cut his unit target to $16.50 from $18. Analysts on average target the units at $14.81. Mr. Shan says in a note: "InterRent REIT's NOI performance was strong at 12.4 per cent (11 per cent year-to-date), with revenue growth outpacing expenses. With Montreal lagging but recovering, a strategy of holding rents during the downturn and its continuous value-add activities, InterRent REIT's earnings have some momentum near term, offset partly by interest expense headwinds. Longer term, we see upside through its sizable MTM rent potential of 30 per cent." The Globe's John Heinzl said on Sept. 3 that he believed InterRent REIT was worth consideration. He said the REIT was "bouncing back." The units could then be had for $12.15. The Globe reported on Oct. 4 that iA Capital analyst Johann Rodrigues had added InterRent REIT to his top picks list. Mr. Rodrigues continued to rate the units "strong buy." The units could then be had for $12.05.

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