Interrent Real Estate Investment Trust (TSE:IIP.UN – Free Report) had its price target lowered by Raymond James from C$16.25 to C$15.75 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a strong-buy rating on the real estate investment trust’s stock.
A number of other equities research analysts have also issued reports on IIP.UN. Royal Bank of Canada increased their target price on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an outperform rating in a report on Friday, March 1st. Veritas Investment Research restated a reduce rating on shares of Interrent Real Estate Investment Trust in a report on Friday, March 1st. Laurentian set a C$15.00 price objective on shares of Interrent Real Estate Investment Trust and gave the company a buy rating in a report on Monday, January 22nd. TD Securities reduced their price objective on shares of Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday. Finally, National Bankshares reduced their price objective on shares of Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an outperform rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Interrent Real Estate Investment Trust presently has an average rating of Moderate Buy and an average price target of C$15.05.
Read Our Latest Research Report on IIP.UN
Interrent Real Estate Investment Trust Price Performance
Interrent Real Estate Investment Trust Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be paid a $0.0315 dividend. This represents a $0.38 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, April 29th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is 59.38%.
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.
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