InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives C$13.19 Consensus PT from Analysts

InterRent Real Estate Investment Trust (TSE:IIP.UN) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$13.19.

A number of analysts have commented on IIP.UN shares. Royal Bank of Canada decreased their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Scotiabank dropped their price objective on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. CIBC cut their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group increased their target price on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Raymond James cut their price target on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Wednesday, February 26th.

InterRent Real Estate Investment Trust Trading Down 6.8 %

Shares of IIP.UN stock opened at C$10.52 on Wednesday. InterRent Real Estate Investment Trust has a 1-year low of C$9.40 and a 1-year high of C$13.20. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The stock has a market cap of C$1.56 billion, a price-to-earnings ratio of -526.00 and a beta of 1.13. The stock has a 50-day moving average of C$10.28 and a 200-day moving average of C$10.79.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend was Friday, January 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is -1,900.00%.

About InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.