InterRent REIT: Solid And Inexpensive

2025-05-21 11:48:48 ET

Summary

• We passed on InterRent REIT in 2020. While the REIT was well run, it was too expensive at that time.
• The valuation became compelling in 2024 and we became buyers.
• We review the first quarter results and lay out our bullish thesis.

All values are in CAD unless noted otherwise.

InterRent Real Estate Investment Trust (TSX: IIP.UN:CA ) owns and operates a portfolio of multi-family apartment properties in Ontario, Quebec and British Columbia. The units are located in urban areas and majority of the portfolio resides in the two eastern provinces, Ontario more than Quebec....

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