InterRent Real Estate Investment Trust (TSE:IIP.UN) Announces Monthly Dividend of $0.03

InterRent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Wednesday, July 31st, TickerTech reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.0315 per share by the real estate investment trust on Thursday, August 15th. This represents a $0.38 annualized dividend and a yield of 2.95%. The ex-dividend date is Wednesday, July 31st.

InterRent Real Estate Investment Trust Trading Up 0.5 %

TSE:IIP.UN opened at C$12.80 on Monday. The stock has a market cap of C$1.86 billion, a price-to-earnings ratio of 53.33 and a beta of 1.10. The company has a debt-to-equity ratio of 65.36, a quick ratio of 0.04 and a current ratio of 0.55. 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 has a fifty day moving average of C$12.12 and a 200-day moving average of C$12.79.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IIP.UN shares. Scotiabank upped their price objective on shares of InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the stock an “outperform” rating in a report on Wednesday, May 15th. Raymond James dropped their price target on shares of InterRent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 24th. TD Securities decreased their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday, April 24th. Finally, National Bankshares dropped their target price on 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, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$15.07.

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.