Interrent Real Estate Investment Trust (TSE:IIP.UN) PT Lowered to C$15.75

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective lowered by Raymond James from C$16.25 to C$15.75 in a research report report published on Wednesday morning, BayStreet.CA reports. Raymond James currently has a strong-buy rating on the real estate investment trust’s stock.

Other research analysts have also issued reports about the company. Scotiabank cut their target price on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an outperform rating on the stock in a research report on Monday, March 25th. Cormark raised their price objective on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. BMO Capital Markets raised their price objective on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. TD Securities cut their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday. Finally, National Bankshares cut their price objective on Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an outperform rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$15.05.

Interrent Real Estate Investment Trust Trading Down 0.1 %

Shares of IIP.UN opened at C$12.12 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88. The firm has a market capitalization of C$1.76 billion, a P/E ratio of 18.94 and a beta of 1.08. The stock’s fifty day simple moving average is C$13.33 and its 200 day simple moving average is C$12.97. Interrent Real Estate Investment Trust has a twelve month low of C$11.43 and a twelve 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 Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.0315 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.38 annualized dividend and a dividend yield of 3.12%. Interrent Real Estate Investment Trust’s dividend payout ratio is presently 59.38%.

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.