InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives Average Recommendation of “Moderate Buy” from Analysts

InterRent Real Estate Investment Trust (TSE:IIP.UN) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$14.93.

Several brokerages have recently weighed in on IIP.UN. Royal Bank of Canada reduced their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a research note on Wednesday, November 6th. National Bankshares lifted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Finally, BMO Capital Markets decreased their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th.

InterRent Real Estate Investment Trust Price Performance

IIP.UN stock opened at C$10.55 on Thursday. The business has a 50 day moving average price of C$11.74 and a 200 day moving average price of C$12.13. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The stock has a market cap of C$1.56 billion, a price-to-earnings ratio of -527.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a fifty-two week low of C$10.50 and a fifty-two week high of C$14.50.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a dividend of $0.0315 per share. This represents a $0.38 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -1,900.00%.

About InterRent Real Estate Investment Trust

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.