InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 12-Month Low – Should You Sell?

InterRent Real Estate Investment Trust (TSE:IIP.UN) shares reached a new 52-week low on Monday . The company traded as low as C$9.91 and last traded at C$9.95, with a volume of 64530 shares trading hands. The stock had previously closed at C$10.09.

Analysts Set New Price Targets

IIP.UN has been the topic of a number of recent analyst reports. National Bankshares boosted their price objective on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. BMO Capital Markets dropped their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. TD Securities raised 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 report on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, InterRent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and an average price target of C$14.92.

InterRent Real Estate Investment Trust Stock Down 0.6 %

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 capitalization of C$1.48 billion, a P/E ratio of -501.50 and a beta of 1.13. The stock has a fifty day moving average price of C$10.90 and a two-hundred day moving average price of C$11.88.

InterRent Real Estate Investment Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.96%. This is a boost from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is -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.