InterRent REIT Un (IIP.UN) AI Stock Analysis

• Market Cap: C$1.87B
• Dividend Yield: 2.95%
• Average Volume (3M): 977.74K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.96
• Revenue Growth: 1.56%
• EPS Growth: -9446.15%
• Country: CA
• Employees: 482
• Sector: Real Estate
• Sector Strength: 55
• Industry: REIT - Residential
• EPS (TTM): -0.08
• Shares Outstanding: 139,699,420
• 10 Day Avg. Volume: 610,029
• 30 Day Avg. Volume: 977,738
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$13.54
• Price Target Upside: 1.42% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 5

• Rating: 56 Neutral
• Price Target: C$13.50 ▲(1.12% Upside)

InterRent REIT Un's overall stock score is driven by a mixed financial performance with revenue growth but declining profitability and increasing leverage. The technical analysis suggests a neutral trend, while the valuation is impacted by a negative P/E ratio despite a reasonable dividend yield. The earnings call provides a positive outlook with strong occupancy and strategic initiatives, though challenges remain with rising costs and market pressures.

Positive Factors

Acquisition

The acquisition of InterRent by Carriage Hill Properties highlights the value of the company, with a significant premium to previous market prices.

Portfolio Strength

InterRent's portfolio is concentrated in strong markets like the GTA+Hamilton, Montreal, and Ontario, which are historically defensive investments providing cash flow growth.

Negative Factors

Financial Performance

Recurring FFO per unit was down 23.6% year-over-year and below analyst estimates and consensus.

Market Challenges

Apartment properties in Canada have faced challenges such as an influx of new supply, reduced demand from lower immigration, and affordability issues.

InterRent REIT Un Business Overview & Revenue Model

Company Description

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions. InterRent's primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

How the Company Makes Money

InterRent REIT generates revenue primarily through rental income from its portfolio of multi-residential properties. By acquiring and managing apartment buildings in desirable locations, the company collects monthly rent payments from tenants, which constitute the core source of its revenue. Additionally, InterRent REIT enhances property value and increases rental rates through strategic renovations and upgrades, thus boosting income. The company also benefits from economies of scale and operational efficiencies that reduce costs and improve profitability. Furthermore, InterRent REIT may engage in selective property dispositions to capitalize on favorable market conditions, generating additional income through gains on the sale of assets. The trust's earnings are further supported by its focus on urban centers with strong rental demand, contributing to stable and reliable cash flow.

InterRent REIT Un Financial Statement Overview

Summary

InterRent REIT Un shows a mixed financial performance with growth in revenue but declining profitability and increasing leverage. The company's cash flow management appears effective, but operational challenges and financial risks need to be addressed to improve overall financial health.

Income Statement

The income statement shows a mixed performance. While revenue has grown steadily, the company has faced declining profitability with negative net and EBIT margins in the TTM period. This indicates potential operational challenges and cost management issues.

Balance Sheet

The balance sheet reflects moderate leverage with a debt-to-equity ratio that has increased over time, indicating rising financial risk. However, the equity ratio remains stable, suggesting a solid asset base. Return on equity has turned negative, highlighting profitability concerns.

Cash Flow

Cash flow analysis reveals a positive free cash flow growth in the TTM period, but the operating cash flow to net income ratio is low, indicating potential cash generation issues. The free cash flow to net income ratio remains strong, suggesting efficient cash management despite profitability challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	247.78M	246.25M	237.13M	216.40M	185.15M	159.96M
Gross Profit	182.25M	181.79M	173.63M	157.39M	132.44M	114.00M
EBITDA	-123.94M	-96.41M	142.31M	144.11M	88.14M	103.31M
Net Income	-183.03M	-155.65M	92.24M	103.96M	369.69M	150.65M
Balance Sheet
Total Assets	4.15B	4.20B	4.44B	4.32B	4.12B	3.21B
Cash, Cash Equivalents and Short-Term Investments	3.45M	4.52M	2.55M	4.27M	2.06M	51.64M
Total Debt	1.73B	1.69B	1.69B	1.66B	1.51B	999.60M
Total Liabilities	1.87B	1.80B	1.86B	1.82B	1.70B	1.15B
Stockholders Equity	2.28B	2.39B	2.57B	2.50B	2.42B	2.07B
Cash Flow
Free Cash Flow	85.91M	67.48M	89.62M	91.18M	96.02M	61.94M
Operating Cash Flow	85.91M	67.48M	89.62M	91.18M	96.02M	61.94M
Investing Cash Flow	-56.40M	14.45M	-111.86M	-197.55M	-605.72M	-290.71M
Financing Cash Flow	-73.09M	-79.96M	20.52M	108.57M	460.12M	279.65M

InterRent REIT Un Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.35
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IIP.UN, the sentiment is Positive. The current price of 13.35 is above the 20-day moving average (MA) of 13.26, above the 50-day MA of 13.30, and above the 200-day MA of 11.33, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 58.71 is Neutral, neither overbought nor oversold. The STOCH value of 67.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:IIP.UN.

InterRent REIT Un Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KMP.UN	75 Outperform	C$2.17B	3.82	19.03%	4.04%	5.82%	83.08%
MRG.UN	68 Neutral	C$991.96M	10.58	4.86%	4.05%	3.93%	-29.40%
MI.UN	64 Neutral	C$500.54M	7.18	5.89%	3.87%	-0.69%	―
Sector *	63 Neutral	$7.06B	13.77	-0.50%	7.05%	4.08%	-25.24%
IIP.UN	56 Neutral	C$1.87B	―	-7.49%	2.95%	1.56%	-9446.15%
CAR.UN	55 Neutral	C$6.72B	84.51	0.88%	3.66%	-2.56%	―
BOWFF	―	$2.73B	10.61	6.62%	2.16%	―	―

InterRent REIT Un Corporate Events

InterRent REIT Gains Proxy Advisor Support for Arrangement with CLV Group and GIC

InterRent REIT has announced that both ISS and Glass Lewis, leading independent proxy advisors, recommend unitholders vote in favor of a proposed arrangement with CLV Group and GIC. This arrangement offers unitholders a cash consideration of $13.55 per unit, representing a significant premium over previous trading prices, and is supported by fairness opinions from BMO Capital Markets and National Bank Financial Markets. The Board of Trustees unanimously supports the arrangement, which promises immediate value and liquidity for unitholders, and encourages them to vote before the deadline.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Reports Q2 2025 Results and Announces $4 Billion Acquisition Agreement

InterRent REIT has announced its second quarter results for 2025, highlighting a significant acquisition agreement valued at approximately $4 billion, which offers a 35% premium to its unaffected unit price. The company reported a 4.0% year-over-year growth in average monthly rent and a slight decrease in occupancy rates due to market pressures, although post-quarter improvements were noted. Despite a decrease in total portfolio net operating income, same-property income saw a modest increase. The REIT continues to advance its capital recycling program, achieving a premium on recent property dispositions. The transaction is expected to enhance shareholder value, and the board recommends unitholders vote in favor of the acquisition.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Proposes All-Cash Acquisition by CLV Group and GIC

InterRent REIT has announced the mailing of materials for a special meeting where unitholders will vote on a proposed all-cash acquisition by CLV Group and GIC. The transaction, valued at approximately $4 billion, offers a 35% premium to the unaffected closing unit price and provides certainty of value and immediate liquidity for unitholders. The board of trustees unanimously recommends voting in favor of the acquisition, which follows a comprehensive assessment of alternatives and a 40-day go-shop period.

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.

InterRent REIT Sets Date for Q2 2025 Financial Results Release

InterRent REIT announced the release of its second quarter 2025 financial results scheduled for August 6, 2025, after market close. The company will not host a conference call following the release, but financial statements and related documents will be available on their investor relations website. This announcement reflects InterRent’s ongoing commitment to transparency and providing stakeholders with timely financial information, which is crucial for maintaining investor confidence and supporting its growth strategy in the multi-residential property market.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Declares July 2025 Distribution

InterRent REIT announced a distribution of $0.033075 per Trust unit for July 2025, translating to $0.3969 annually, with payment scheduled for August 15, 2025. This announcement reflects the company’s ongoing commitment to providing sustainable cash distributions to its unitholders, reinforcing its strategic focus on growth and stability in the multi-residential property sector.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Concludes Go-Shop Period, Proceeds with $4 Billion Acquisition

InterRent REIT announced the conclusion of its 40-day go-shop period, during which it sought alternative acquisition proposals following an arrangement agreement with Carriage Hill Properties Acquisition Corp. No alternative proposals were received, and the REIT will proceed with the all-cash transaction valued at approximately $4 billion. The transaction requires various approvals, including from unitholders and regulatory bodies, and is structured as a statutory plan of arrangement under Ontario law.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Declares June 2025 Distribution

InterRent REIT has announced a distribution of $0.033075 per Trust unit for June 2025, equating to $0.3969 annually, payable to unitholders by mid-July. This announcement underscores InterRent’s commitment to providing consistent and growing returns to its stakeholders, reflecting its strategic focus on sustainable growth and efficient portfolio management in the multi-residential property sector.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT to be Acquired in $4 Billion All-Cash Deal

InterRent REIT has announced an agreement to be acquired by CLV Group and GIC in a $4 billion all-cash transaction, offering a 35% premium to its unaffected closing unit price. This strategic move, endorsed by InterRent’s Board, includes a 40-day go-shop period to explore superior proposals, potentially impacting its market positioning and offering significant value to its stakeholders.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Declares May 2025 Distribution

InterRent REIT has declared a distribution of $0.033075 per Trust unit for May 2025, equating to $0.3969 annually, with payment scheduled for June 16, 2025. This announcement underscores InterRent’s commitment to providing consistent returns to its unitholders and reflects its strategic focus on maintaining a conservative payout ratio while expanding its portfolio in stable markets.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$15.00 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.

InterRent REIT Reports Strong Q1 2025 Results and Strategic Dispositions

InterRent REIT reported solid financial results for Q1 2025, with a notable increase in same-property portfolio occupancy and average monthly rent. The company’s net operating income saw moderate growth, while funds from operations increased by 3.3% year-over-year. The REIT continued its capital recycling program by disposing of several properties at prices above their market values, enhancing shareholder value through unit repurchases. Despite a slight decrease in adjusted funds from operations, InterRent remains focused on long-term growth and maintaining balance sheet flexibility.

The most recent analyst rating on ($TSE:IIP.UN) stock is a Buy with a C$14.50 price target. To see the full list of analyst forecasts on InterRent REIT Un stock, see the TSE:IIP.UN Stock Forecast page.