InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$15.07.

A number of research firms have recently weighed in on IIP.UN. TD Securities cut their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday, April 24th. Raymond James lowered their price target on InterRent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating for the company in a report on Wednesday, April 24th. National Bankshares lowered their price target on InterRent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, Scotiabank boosted their price target on InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the stock an “outperform” rating in a report on Wednesday, May 15th.

InterRent Real Estate Investment Trust Stock Performance

TSE:IIP.UN opened at C$12.29 on Thursday. The stock has a fifty day moving average price of C$12.25 and a 200-day moving average price of C$12.75. The company has a market cap of C$1.79 billion, a price-to-earnings ratio of 51.17 and a beta of 1.10. The company has a debt-to-equity ratio of 65.36, a quick ratio of 0.04 and a current ratio of 0.55. InterRent Real Estate Investment Trust has a fifty-two week low of C$11.43 and a fifty-two week high of C$14.50.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be paid a $0.0315 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Wednesday, July 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is 158.33%.

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.