InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Cut to C$14.50 by Analysts at Royal Bank of Canada

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price reduced by Royal Bank of Canada from C$15.00 to C$14.50 in a research report report published on Wednesday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the real estate investment trust’s stock.

IIP.UN has been the subject of several other research reports. 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 target for the company in a research note on Wednesday, November 6th. CIBC dropped their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating for the company in a research note on Wednesday. Scotiabank dropped their price target on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating for the company in a research note on Wednesday. Raymond James dropped their price target on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Canaccord Genuity Group boosted their price target on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.3 %

InterRent Real Estate Investment Trust stock opened at C$9.93 on Wednesday. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.40 and a fifty-two week high of C$14.40. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The firm has a 50 day moving average price of C$9.98 and a 200 day moving average price of C$11.22. The company has a market capitalization of C$1.47 billion, a PE ratio of -496.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.0331 per share. The ex-dividend date was Friday, January 31st. This represents a $0.40 annualized dividend and a dividend yield of 4.00%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -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.