01:01 PM EDT, 05/28/2025 (MT Newswires) -- National Bank has reiterated its Sector Perform rating and $13.55 target on InterRent REIT after resuming coverage of the stock.

"Following a behind the scenes activist campaign it shouldn't be a major surprise that a privatization transaction has arisen," writes analyst Matt Kornak.

Kornak noted that while the bid produced a reasonable value for unitholders, it also likely reflects some skittishness in the market by larger institutional capital players. "While the pricing seems fair for the assets being acquired in today's context (higher interest rates, macro uncertainty), there is no juicy change of control premium being paid here and with a 40-day go-shop period it likely makes sense to hold on and see if anyone else comes to the table."

Price: 13.70, Change: +0.11, Percent Change: +0.77