InterRent Real Estate Investment Trust (TSE:IIP.UN) Share Price Crosses Below 50-Day Moving Average – What’s Next?

InterRent Real Estate Investment Trust (TSE:IIP.UN) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$10.67 and traded as low as C$10.21. InterRent Real Estate Investment Trust shares last traded at C$10.28, with a volume of 284,854 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IIP.UN shares. TD Securities upgraded 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. Royal Bank of Canada dropped their price target on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. National Bankshares raised their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Finally, BMO Capital Markets cut 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.92.

InterRent Real Estate Investment Trust Price Performance

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$1.51 billion, a price-to-earnings ratio of -510.00 and a beta of 1.13. The company’s fifty day moving average is C$10.60 and its 200 day moving average is C$11.79.

InterRent Real Estate Investment Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a $0.0331 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. This represents a $0.40 annualized dividend and a dividend yield of 3.89%. InterRent Real Estate Investment Trust’s dividend 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.