Interrent Real Estate Investment Trust (TSE:IIP.UN) Declares $0.03 Monthly Dividend

Interrent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.0315 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.38 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, April 29th.

Interrent Real Estate Investment Trust Price Performance

Shares of IIP.UN stock traded down C$0.01 during trading hours on Friday, hitting C$12.12. The stock had a trading volume of 117,215 shares, compared to its average volume of 346,902. Interrent Real Estate Investment Trust has a one year low of C$11.43 and a one year high of C$14.50. The company has a debt-to-equity ratio of 66.88, a current ratio of 0.14 and a quick ratio of 0.04. The stock’s 50-day moving average price is C$13.33 and its two-hundred day moving average price is C$12.97. The stock has a market capitalization of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IIP.UN shares. Veritas Investment Research reissued a “reduce” rating on shares of Interrent Real Estate Investment Trust in a research note on Friday, March 1st. BMO Capital Markets boosted their price objective on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. Royal Bank of Canada boosted their price objective on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Scotiabank dropped their target price on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating for the company in a research report on Monday, March 25th. Finally, Laurentian set a C$15.00 target price on Interrent Real Estate Investment Trust and gave the company a “buy” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$15.05.

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.