Royal Bank of Canada Cuts InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$15.00

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective lowered by Royal Bank of Canada from C$16.50 to C$15.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

A number of other equities analysts also recently commented on the stock. 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. BMO Capital Markets dropped their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$14.93.

InterRent Real Estate Investment Trust Stock Down 1.0 %

Shares of IIP.UN opened at C$10.84 on Wednesday. The firm has a fifty day moving average price of C$12.25 and a 200-day moving average price of C$12.25. 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 firm has a market capitalization of C$1.60 billion, a P/E ratio of -542.00 and a beta of 1.13. InterRent Real Estate Investment Trust has a 12-month low of C$10.80 and a 12-month high of C$14.50.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a dividend of $0.0315 per share. This represents a $0.38 annualized dividend and a yield of 3.49%. The ex-dividend date is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is currently -1,900.00%.

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.