The Globe and Mail reports in its Thursday, May 29, edition that Raymond James analyst Brad Sturges has downgraded InterRent REIT to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sturges gave his unit target a 75-cent boost to $14. Analysts on average target the units at $13.36. Mr. Sturges lowered his ranking in response to InterRent's deal to be acquired by Carriage Hill Properties Acquisition Corp., a newly formed entity owned by CLV Group and Singapore Sovereign Wealth Fund. Mr. Sturges says in a note: "We do believe the potential exists that Carriage Hill may be required to slightly sweeten its cash takeover offer in order to obtain unitholder approval. That said, Carriage Hill s right to match could somewhat limit the potential pool of alternative bidders." The Globe reported on April 25, 2024, that Mr. Sturges had reaffirmed his "strong buy" recommendation for InterRent. InterRent units could then be had for $12.13. The Globe reported on May 21, 2025, that Desjardins analyst Kyle Stanley was sticking with his "buy" recommendation for InterRent REIT. The units were then going for $11.76.
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