InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Pass Below 200 Day Moving Average – Here’s What Happened

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.35 and traded as low as C$12.15. InterRent Real Estate Investment Trust shares last traded at C$12.27, with a volume of 500,526 shares changing hands.

Wall Street Analyst Weigh In

Separately, National Bankshares upped their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$15.16.

InterRent Real Estate Investment Trust Trading Up 1.1 %

The company has a market cap of C$1.81 billion, a price-to-earnings ratio of -613.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The business’s 50 day moving average price is C$12.57 and its 200-day moving average price is C$12.35.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 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 of this dividend is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend 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.