Interrent Real Estate Investment Trust (TSE:IIP.UN) Announces Monthly Dividend of $0.03

Interrent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be paid 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 yield of 3.12%. The ex-dividend date is Monday, April 29th.

Interrent Real Estate Investment Trust Stock Performance

Shares of IIP.UN opened at C$12.12 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88. The stock has a market capitalization of C$1.76 billion, a P/E ratio of 18.94 and a beta of 1.08. The firm’s fifty day simple moving average is C$13.33 and its two-hundred day simple moving average is C$12.97. Interrent Real Estate Investment Trust has a 12 month low of C$11.43 and a 12 month high of C$14.50.

Analysts Set New Price Targets

A number of analysts have commented on IIP.UN shares. CIBC upped their price target on shares of Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Scotiabank cut their price objective on shares of Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating on the stock in a research report on Monday, March 25th. Royal Bank of Canada increased their price objective on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a research report on Friday, March 1st. TD Securities cut their price objective on shares of Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday. Finally, National Bankshares cut their price objective on shares of 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.