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

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Wednesday, July 31st, TickerTech reports. Investors of record on Thursday, August 15th will be given 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 dividend yield of 2.94%. The ex-dividend date is Wednesday, July 31st.

InterRent Real Estate Investment Trust Price Performance

Shares of InterRent Real Estate Investment Trust stock opened at C$12.84 on Monday. InterRent Real Estate Investment Trust has a twelve month low of C$11.43 and a twelve month high of C$14.50. The company has a quick ratio of 0.04, a current ratio of 0.55 and a debt-to-equity ratio of 65.36. The company has a 50-day simple moving average of C$12.12 and a two-hundred day simple moving average of C$12.79. The stock has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 53.33 and a beta of 1.10.

Analyst Ratings Changes

A number of research analysts recently commented on IIP.UN shares. TD Securities dropped their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Wednesday, April 24th. Raymond James dropped their price target on InterRent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating for the company in a research note on Wednesday, April 24th. National Bankshares decreased 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 research report on Wednesday, April 24th. Finally, Scotiabank lifted their target price on InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have given 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$15.07.

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.