Raymond James Trims Interrent Real Estate Investment Trust (TSE:IIP.UN) Target Price to C$15.75

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price target trimmed by Raymond James from C$16.25 to C$15.75 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a strong-buy rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on IIP.UN. Cormark increased their target price on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. Laurentian set a C$15.00 price target on shares of Interrent Real Estate Investment Trust and gave the company a buy rating in a research note on Monday, January 22nd. BMO Capital Markets increased their target price on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. Scotiabank lowered 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. Finally, Royal Bank of Canada raised their price objective on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an outperform rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of C$15.05.

Interrent Real Estate Investment Trust Trading Down 0.1 %

Shares of IIP.UN stock opened at C$12.12 on Wednesday. Interrent Real Estate Investment Trust has a 52-week low of C$11.43 and a 52-week high of C$14.50. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.04 and a current ratio of 0.14. The company has a 50-day simple moving average of C$13.33 and a two-hundred day simple moving average of C$12.97. The company has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08.

Interrent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be given a $0.0315 dividend. 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’s payout ratio is presently 59.38%.

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.