TD Securities Cuts Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$14.00

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price cut by TD Securities from C$15.00 to C$14.00 in a research report released on Wednesday morning, BayStreet.CA reports.

IIP.UN has been the topic of several other reports. Scotiabank lowered their target price on shares of Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an outperform rating on the stock in a research note on Monday, March 25th. Royal Bank of Canada increased their price target on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an outperform rating in a research note on Friday, March 1st. National Bankshares increased their price target on shares of Interrent Real Estate Investment Trust from C$15.25 to C$15.50 and gave the company an outperform rating in a research note on Friday, March 1st. Laurentian set a C$15.00 price target on shares of Interrent Real Estate Investment Trust and gave the company a buy rating in a research note on Monday, January 22nd. Finally, CIBC increased their price target on shares of Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a neutral rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Interrent Real Estate Investment Trust has an average rating of Moderate Buy and a consensus target price of C$15.05.

Interrent Real Estate Investment Trust Price Performance

TSE:IIP.UN opened at C$12.12 on Wednesday. Interrent Real Estate Investment Trust has a one year low of C$11.43 and a one year high of C$14.50. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.04 and a current ratio of 0.14. The firm has a market cap of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08. The firm’s fifty day moving average is C$13.33 and its two-hundred day moving average is C$12.97.

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 given a dividend of $0.0315 per share. The ex-dividend date is Monday, April 29th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.12%. Interrent Real Estate Investment Trust’s payout ratio is currently 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.