InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives C$15.07 Average Price Target from Analysts

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have been assigned an average rating of “Moderate Buy” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$14.93.

A number of analysts have recently issued reports on the company. 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. BMO Capital Markets reduced their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada lowered their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE:IIP.UN opened at C$10.95 on Friday. InterRent Real Estate Investment Trust has a 1-year low of C$10.84 and a 1-year high of C$14.50. The stock has a market cap of C$1.62 billion, a PE ratio of -547.50 and a beta of 1.13. The stock’s fifty day simple moving average is C$12.29 and its two-hundred day simple moving average is C$12.26. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 3.45%. 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.