TSE:IIP.UN
13.93
0.06
(0.43%)
InterRent REIT
IIP.UN-T
Analysis and Opinions about IIP.UN-T
Signal
Opinion
Expert
HOLD
HOLD
November 26, 2020
Likes it. Stock's performed really well. Q3 results strong. Trading at a 5% discount to NAV. Still upside. Primarily in GTA, Hamilton, Ottawa, Montreal. Buy underperformers and renovate them to the advantage of shareholders. Strong recurring free cashflow, growing distribution. Yield is 2.3%.
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Likes it. Stock's performed really well. Q3 results strong. Trading at a 5% discount to NAV. Still upside. Primarily in GTA, Hamilton, Ottawa, Montreal. Buy underperformers and renovate them to the advantage of shareholders. Strong recurring free cashflow, growing distribution. Yield is 2.3%.
BUY
BUY
November 10, 2020
Their collection rate? They reported yesterday. 99% rent collection rate for July-September. Rates are strong for all apartment REITs. He's pleased to see that. IIP's strategy is to sacrifice occupancy to preserve rent. They are concentrated in student housing in Montreal, which is a weakness, but this is short-term, he thinks. A rent freeze in Ontario in 2021 will effect revenues, but he sees long-term value here.
Show full opinionHide full opinionTheir collection rate? They reported yesterday. 99% rent collection rate for July-September. Rates are strong for all apartment REITs. He's pleased to see that. IIP's strategy is to sacrifice occupancy to preserve rent. They are concentrated in student housing in Montreal, which is a weakness, but this is short-term, he thinks. A rent freeze in Ontario in 2021 will effect revenues, but he sees long-term value here.
BUY WEAKNESS
BUY WEAKNESS
September 29, 2020
He's bullish on apartments long-term, given supply and demand in many markets. But short-term there's an impact. IIP has a growing presence in Montreal and he likes their overall portfolio, but assets around McGill and Concordia have taken a hit because foreign students can't enter Canada. A blue chip trading cheaply. If you're a longer-term investor, now is the time to invest in this asset class.
Show full opinionHide full opinionHe's bullish on apartments long-term, given supply and demand in many markets. But short-term there's an impact. IIP has a growing presence in Montreal and he likes their overall portfolio, but assets around McGill and Concordia have taken a hit because foreign students can't enter Canada. A blue chip trading cheaply. If you're a longer-term investor, now is the time to invest in this asset class.
BUY
BUY
June 25, 2020
They recently issued equity to take advantage of opportunities. Stock price is close to net asset value. They might be chopping in the short term because of downtown assets in Montreal. They are focused on the right geographies and have great management.
Show full opinionHide full opinionThey recently issued equity to take advantage of opportunities. Stock price is close to net asset value. They might be chopping in the short term because of downtown assets in Montreal. They are focused on the right geographies and have great management.
TOP PICK
TOP PICK
May 21, 2020
It is one of the two sectors he really likes within real estate. Multi-unit residential properties in Toronto, Ottawa and Montreal. Housing affordability is very low. They buy properties in strategic locations – key jurisdictions in high demand. (Analysts’ price target is $16.02)
Show full opinionHide full opinionIt is one of the two sectors he really likes within real estate. Multi-unit residential properties in Toronto, Ottawa and Montreal. Housing affordability is very low. They buy properties in strategic locations – key jurisdictions in high demand. (Analysts’ price target is $16.02)
PARTIAL SELL
PARTIAL SELL
March 5, 2020
He really likes the company. They have strong management. They buy buildings and fix them up and then raise rents. He sees tremendous net asset value growth in the company; however it has definitely gone through its net asset value in stock price. Perhaps sell a bit into strength.
Show full opinionHide full opinionHe really likes the company. They have strong management. They buy buildings and fix them up and then raise rents. He sees tremendous net asset value growth in the company; however it has definitely gone through its net asset value in stock price. Perhaps sell a bit into strength.
HOLD
HOLD
March 4, 2020
They just released earnings and the market liked the results. He thinks they are getting overvalued. However, today's 50 point drop in interest rates helps them significantly as their earnings streams get more valuable. He sees better opportunities like energy infrastructure, telecoms and utility holdings as their values are less frothy.
Show full opinionHide full opinionThey just released earnings and the market liked the results. He thinks they are getting overvalued. However, today's 50 point drop in interest rates helps them significantly as their earnings streams get more valuable. He sees better opportunities like energy infrastructure, telecoms and utility holdings as their values are less frothy.
STRONG BUY
STRONG BUY
January 15, 2020
Loves this. They're in Ottawa, Montreal, and the GTA, benefiting from strong population growth. They buy undermanaged apartments, invest capital and fix them up. So, they can increase rents. They've done this for a long time. A darling that he's long owned. They're developing land with Brookfield around Burlington.
Loves this. They're in Ottawa, Montreal, and the GTA, benefiting from strong population growth. They buy undermanaged apartments, invest capital and fix them up. So, they can increase rents. They've done this for a long time. A darling that he's long owned. They're developing land with Brookfield around Burlington.
BUY
BUY
December 2, 2019
It's fairly valued now. He likes IIP for renovating buildings well then capturing the upside in rent. Free cash flow yield of 3% and free cash flow growth of 15%. The stock will move and up from time to time, but if you buy it now you will make money.
Show full opinionHide full opinionIt's fairly valued now. He likes IIP for renovating buildings well then capturing the upside in rent. Free cash flow yield of 3% and free cash flow growth of 15%. The stock will move and up from time to time, but if you buy it now you will make money.
HOLD
HOLD
November 27, 2019
CAR.UN vs IIP.UN He likes both as they both have exposure to apartments in the Toronto market. Both have outstanding management teams and great opportunities ahead. He would hold both of them.
Show full opinionHide full opinionCAR.UN vs IIP.UN He likes both as they both have exposure to apartments in the Toronto market. Both have outstanding management teams and great opportunities ahead. He would hold both of them.
BUY
BUY
November 4, 2019
He likes the management and the location. Management is highly aligned and are good at putting capital into their buildings and get 15-20% returns on that capital. They are all along the highway 401 in Ontario. (Analysts’ price target is $16.50)
Show full opinionHide full opinionHe likes the management and the location. Management is highly aligned and are good at putting capital into their buildings and get 15-20% returns on that capital. They are all along the highway 401 in Ontario. (Analysts’ price target is $16.50)
DON'T BUY
DON'T BUY
October 22, 2019
Likes the apartment space--anything with rentals will play out very well. The earnings haven't kept up with the stock price--which have done amazingly well. This could move back to $12, running out of steam. They've overrun their fair market value by 20%.
Show full opinionHide full opinionLikes the apartment space--anything with rentals will play out very well. The earnings haven't kept up with the stock price--which have done amazingly well. This could move back to $12, running out of steam. They've overrun their fair market value by 20%.
HOLD
HOLD
October 18, 2019
No reason to sell this one at is continues to outperform the S&P. If interest rates begin to rise next year it might cause him to take some profit.
Show full opinionHide full opinionNo reason to sell this one at is continues to outperform the S&P. If interest rates begin to rise next year it might cause him to take some profit.
HOLD
HOLD
October 9, 2019
He likes holding this one. Apartments are doing well in the space. He worries if these are being over valued. REIT distribution yeilds need to be re-though. Real Estate is very capital intensive and high distributions may require more debt and more equity to get raised to pay them. He prefers a lower yield and low payout ratios. This REIT has done things well, with a low distribution yield that is allowing free cash flow to grow at 18%. He prefers owning apartment REITs versus owning a condo. Yield 1.8%
Show full opinionHide full opinionHe likes holding this one. Apartments are doing well in the space. He worries if these are being over valued. REIT distribution yeilds need to be re-though. Real Estate is very capital intensive and high distributions may require more debt and more equity to get raised to pay them. He prefers a lower yield and low payout ratios. This REIT has done things well, with a low distribution yield that is allowing free cash flow to grow at 18%. He prefers owning apartment REITs versus owning a condo. Yield 1.8%
COMMENT
COMMENT
August 28, 2019
All apartment REITs now are beasts--don't sell them. They keep going up. IIP owns great properties in Toronto, Ottawa and Montreal, many apartments which have little supply but strong demand. The IIP valuation is too high for him, but it will generate good cash flow growth at 10% a year. The only thing to stop this is a recession which he doesn't expect.
Show full opinionHide full opinionAll apartment REITs now are beasts--don't sell them. They keep going up. IIP owns great properties in Toronto, Ottawa and Montreal, many apartments which have little supply but strong demand. The IIP valuation is too high for him, but it will generate good cash flow growth at 10% a year. The only thing to stop this is a recession which he doesn't expect.
InterRent REIT(IIP.UN-T) Rating
Ranking : 4 out of 5
Bullish - Buy Signals / Votes : 3
Neutral - Hold Signals / Votes : 2
Bearish - Sell Signals / Votes : 1
Total Signals / Votes : 6
InterRent REIT(IIP.UN-T) Frequently Asked Questions
What is InterRent REIT stock symbol?
InterRent REIT is a Canadian stock, trading under the symbol IIP.UN-T on the Toronto Stock Exchange (IIP.UN-CT). It is usually referred to as TSX:IIP.UN or IIP.UN-T
Is InterRent REIT a buy or a sell?
In the last year, 6 stock analysts published opinions about IIP.UN-T. 3 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is HOLD. Read the latest stock experts' ratings for InterRent REIT.
Is InterRent REIT a good investment or a top pick?
InterRent REIT was recommended as a Top Pick by Michelle Wearing on 2020-11-26. Read the latest stock experts ratings for InterRent REIT.
Why is InterRent REIT stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is InterRent REIT worth watching?
6 stock analysts on Stockchase covered InterRent REIT In the last year. It is a trending stock that is worth watching.
What is InterRent REIT stock price?
On 2021-03-02, InterRent REIT (IIP.UN-T) stock closed at a price of $13.93.
