Interrent Real Estate Investment Trust (TSE:IIP.UN) Receives Consensus Rating of “Buy” from Analysts

Interrent Real Estate Investment Trust (TSE:IIP.UNGet Rating) has earned a consensus rating of “Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$19.09.

IIP.UN has been the subject of a number of recent research reports. CIBC decreased their price objective on Interrent Real Estate Investment Trust from C$19.50 to C$18.50 in a research report on Wednesday, March 9th. Raymond James set a C$20.25 price objective on Interrent Real Estate Investment Trust and gave the stock an “outperform” rating in a research report on Wednesday, March 9th. TD Securities decreased their price objective on Interrent Real Estate Investment Trust from C$21.00 to C$20.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. Royal Bank of Canada increased their price objective on Interrent Real Estate Investment Trust from C$21.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 9th. Finally, National Bankshares decreased their price objective on Interrent Real Estate Investment Trust from C$19.00 to C$17.00 in a research report on Wednesday.

Shares of TSE IIP.UN opened at C$14.41 on Thursday. The stock has a market cap of C$2.02 billion and a PE ratio of 5.43. The company has a quick ratio of 0.04, a current ratio of 0.07 and a debt-to-equity ratio of 64.99. Interrent Real Estate Investment Trust has a 52-week low of C$14.30 and a 52-week high of C$18.64. The business has a 50-day moving average price of C$15.63 and a 200 day moving average price of C$16.39.

The firm also recently announced a monthly dividend, which will be paid on Monday, May 16th. Stockholders of record on Monday, May 16th will be paid a dividend of $0.0285 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.03. The ex-dividend date is Thursday, April 28th. Interrent Real Estate Investment Trust’s dividend payout ratio is 12.36%.

In related news, Director Ronald A. Leslie sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of C$16.24, for a total value of C$64,960.00. Following the completion of the transaction, the director now directly owns 51,326 shares of the company’s stock, valued at approximately C$833,534.24. Over the last three months, insiders have sold 25,000 shares of company stock valued at $410,537.

Interrent Real Estate Investment Trust Company Profile (Get Rating)

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.

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Analyst Recommendations for Interrent Real Estate Investment Trust (TSE:IIP.UN)

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