InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 1-Year Low Following Analyst Downgrade

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price hit a new 52-week low during mid-day trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from C$16.50 to C$15.00. The company traded as low as C$10.84 and last traded at C$10.94, with a volume of 143154 shares trading hands. The stock had previously closed at C$11.24.

A number of other analysts also recently issued reports on IIP.UN. BMO Capital Markets cut their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. National Bankshares increased their price target on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.93.

InterRent Real Estate Investment Trust Stock Performance

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 firm has a market cap of C$1.62 billion, a P/E ratio of -547.50 and a beta of 1.13. The company’s 50 day moving average is C$12.29 and its 200 day moving average is C$12.26.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, October 31st. This represents a $0.38 dividend on an annualized basis and a yield of 3.45%. InterRent Real Estate Investment Trust’s dividend payout ratio is currently -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.