InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 12-Month Low – Here’s Why

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as C$9.85 and last traded at C$9.90, with a volume of 195140 shares traded. The stock had previously closed at C$10.00.

Analyst Upgrades and Downgrades

IIP.UN has been the topic of a number of research reports. National Bankshares increased their price objective on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. BMO Capital Markets cut their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Royal Bank of Canada lowered their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target for the company in a research report on Wednesday, November 6th. Finally, Raymond James decreased their price objective on shares of InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.56.

InterRent Real Estate Investment Trust Trading Down 1.3 %

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 business has a 50 day moving average price of C$10.37 and a 200-day moving average price of C$11.66. The firm has a market capitalization of C$1.43 billion, a PE ratio of -484.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be paid a $0.0331 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a yield of 4.10%. InterRent Real Estate Investment Trust’s payout ratio is -1,900.00%.

InterRent Real Estate Investment Trust Company Profile

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.