Interrent Real Estate Investment Trust (TSE:IIP.UN) Given New C$14.00 Price Target at National Bankshares

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price lowered by National Bankshares from C$15.50 to C$14.00 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also commented on IIP.UN. CIBC raised their price target on Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a neutral rating in a research report on Friday, March 1st. TD Securities dropped their price target on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday. Laurentian set a C$15.00 price target on Interrent Real Estate Investment Trust and gave the stock a buy rating in a research report on Monday, January 22nd. Veritas Investment Research reaffirmed a reduce rating on shares of Interrent Real Estate Investment Trust in a research report on Friday, March 1st. Finally, Raymond James lifted their target price on Interrent Real Estate Investment Trust from C$16.00 to C$16.25 and gave the company a strong-buy rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Interrent Real Estate Investment Trust currently has an average rating of Moderate Buy and an average target price of C$15.05.

Interrent Real Estate Investment Trust Trading Down 0.9 %

TSE:IIP.UN opened at C$12.15 on Wednesday. Interrent Real Estate Investment Trust has a 1-year low of C$11.43 and a 1-year high of C$14.50. The business’s 50-day moving average price is C$13.39 and its two-hundred day moving average price is C$12.98. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88. The firm has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 18.98 and a beta of 1.08.

Interrent Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be paid a $0.0315 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.38 dividend on an annualized basis and a yield of 3.11%. Interrent Real Estate Investment Trust’s dividend payout ratio 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.