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 been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$14.56.

Several brokerages have commented on IIP.UN. 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. BMO Capital Markets decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Royal Bank of Canada cut their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. Finally, Raymond James reduced their price objective on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research note on Monday, January 13th.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE IIP.UN opened at C$10.08 on Tuesday. InterRent Real Estate Investment Trust has a 52 week low of C$9.40 and a 52 week high of C$14.50. The business’s 50 day moving average price is C$10.13 and its 200 day moving average price is C$11.44. 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 firm has a market cap of C$1.49 billion, a P/E ratio of -504.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Friday, January 31st. InterRent Real Estate Investment Trust’s payout ratio is -1,900.00%.

InterRent Real Estate Investment Trust Company Profile

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.