Interrent Real Estate Investment Trust (TSE:IIP.UN) Share Price Passes Below 50 Day Moving Average of $13.54

Interrent Real Estate Investment Trust (TSE:IIP.UNGet Rating) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$13.54 and traded as low as C$12.01. Interrent Real Estate Investment Trust shares last traded at C$12.04, with a volume of 238,812 shares traded.

Several analysts have weighed in on the stock. Scotiabank lowered their price target on shares of Interrent Real Estate Investment Trust from C$19.50 to C$17.50 in a research note on Thursday, May 12th. Royal Bank of Canada lowered their price target on shares of Interrent Real Estate Investment Trust from C$22.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday, May 12th. National Bankshares lowered their price target on shares of Interrent Real Estate Investment Trust from C$19.00 to C$17.00 in a research note on Wednesday, April 27th. TD Securities lowered their price target on shares of Interrent Real Estate Investment Trust from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Thursday, May 12th. Finally, CIBC lowered their price target on shares of Interrent Real Estate Investment Trust from C$18.50 to C$17.00 and set a “neutral” rating for the company in a research note on Thursday, May 12th.

The company has a market cap of C$1.69 billion and a PE ratio of 4.67. The company has a quick ratio of 0.06, a current ratio of 0.12 and a debt-to-equity ratio of 63.60. The firm’s 50-day moving average is C$13.54 and its 200-day moving average is C$15.24.

The firm also recently disclosed a monthly dividend, which was paid on Monday, May 16th. Shareholders of record on Monday, May 16th were issued a $0.0285 dividend. This represents a $0.34 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Thursday, April 28th. This is a boost from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.03. Interrent Real Estate Investment Trust’s dividend payout ratio is 12.90%.

In other Interrent Real Estate Investment Trust news, Director Ronald A. Leslie sold 4,000 shares of the company’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of C$16.24, for a total value of C$64,960.00. Following the sale, the director now owns 51,326 shares in the company, valued at C$833,534.24.

Interrent Real Estate Investment Trust Company Profile (TSE:IIP.UN)

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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