InterRent REIT Secures Approval for Acquisition by Carriage Hill Properties

InterRent REIT Un ( ($TSE:IIP.UN) ) has provided an announcement.

InterRent REIT has received approval under the Investment Canada Act for its plan of arrangement with Carriage Hill Properties Acquisition Corp., a new entity owned by CLV Group and GIC. This arrangement, which has already been cleared under the Competition Act and approved by InterRent’s unitholders, involves the acquisition of all REIT units at $13.55 per unit. The transaction is expected to close by early 2026, after which the units will be delisted from the Toronto Stock Exchange, marking a significant shift in InterRent’s operational landscape.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Hold with a C$14.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

Spark’s Take on TSE:IIP.UN Stock

According to Spark, TipRanks’ AI Analyst, TSE:IIP.UN is a Neutral.

InterRent REIT Un’s stock score is primarily influenced by its mixed financial performance and positive technical indicators. While the stock shows bullish momentum, the negative P/E ratio and moderate dividend yield raise valuation concerns. Addressing profitability and leverage issues could enhance the stock’s attractiveness.

To see Spark’s full report on TSE:IIP.UN stock, click here.

More about InterRent REIT Un

InterRent is a growth-oriented real estate investment trust focused on increasing unitholder value through the acquisition and ownership of multi-residential properties. The company aims to expand its portfolio within stable markets, leveraging the expertise of its trustees and management to grow funds from operations and net asset value while providing sustainable cash distributions to unitholders.

Average Trading Volume: 894,800

Technical Sentiment Signal: Buy

Current Market Cap: C$1.87B

Learn more about IIP.UN stock on TipRanks’ Stock Analysis page.