Interrent Real Estate Investment Trust (IIP.UN) To Go Ex-Dividend on April 29th

Interrent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.0315 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, April 29th.

Interrent Real Estate Investment Trust Trading Down 0.1 %

Shares of Interrent Real Estate Investment Trust stock traded down C$0.01 during trading hours on Friday, reaching C$12.12. The stock had a trading volume of 117,215 shares, compared to its average volume of 346,902. The firm has a 50 day simple moving average of C$13.33 and a two-hundred day simple moving average of C$12.97. The firm has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88. Interrent Real Estate Investment Trust has a 1 year low of C$11.43 and a 1 year high of C$14.50.

Analysts Set New Price Targets

IIP.UN has been the topic of several analyst reports. Scotiabank dropped their target price on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating on the stock in a report on Monday, March 25th. TD Securities dropped their target price on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday. BMO Capital Markets raised their target price on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a report on Monday, March 4th. Laurentian set a C$15.00 price objective on Interrent Real Estate Investment Trust and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Cormark lifted their price objective on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Interrent Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus target price of C$15.05.

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.