In a report released today, Mark Rothschild from Canaccord Genuity maintained a Hold rating on InterRent REIT Un, with a price target of C$13.55.
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Mark Rothschild’s rating is based on several factors influencing InterRent REIT’s current market position. The company’s quarterly results aligned with expectations, and the recent approval of its acquisition by CLV Group and GIC suggests the transaction will likely proceed, providing some stability in an otherwise softening market. Despite a year-over-year decline in funds from operations per unit, when adjusted for acquisition-related costs, the results were in line with forecasts, indicating a stable financial performance.
However, the slowing organic growth due to rising vacancies and moderating leasing spreads reflects broader challenges in the Canadian rental housing market. InterRent’s units are trading at a premium compared to its peers, which trade at a discount, and this valuation disparity suggests limited upside potential. These factors combined lead to a Hold rating, as the stock’s current valuation and market conditions do not justify a more aggressive stance.
In another report released on August 7, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a C$14.50 price target.