InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives C$14.93 Consensus Target Price from Brokerages

InterRent Real Estate Investment Trust (TSE:IIP.UN) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$14.93.

Several equities research analysts recently commented on the company. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price on the stock in a report on Wednesday, November 6th. Royal Bank of Canada cut their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. BMO Capital Markets dropped their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Finally, National Bankshares raised their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th.

InterRent Real Estate Investment Trust Trading Down 1.7 %

Shares of IIP.UN stock opened at C$10.70 on Thursday. The firm’s 50 day moving average price is C$11.66 and its two-hundred day moving average price is C$12.11. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. InterRent Real Estate Investment Trust has a fifty-two week low of C$10.50 and a fifty-two week high of C$14.50. The stock has a market cap of C$1.58 billion, a price-to-earnings ratio of -535.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a dividend of $0.0315 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.38 annualized dividend and a yield of 3.53%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is -1,900.00%.

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.