Interrent Real Estate Investment Trust (TSE:IIP.UN) Share Price Crosses Above 50-Day Moving Average of $12.80

Interrent Real Estate Investment Trust (TSE:IIP.UNGet Rating) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$12.80 and traded as high as C$14.25. Interrent Real Estate Investment Trust shares last traded at C$14.01, with a volume of 354,172 shares changing hands.

Wall Street Analysts Forecast Growth

IIP.UN has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price objective on shares of Interrent Real Estate Investment Trust from C$18.00 to C$16.50 and set an “outperform” rating for the company in a report on Friday, November 11th. CIBC lowered their price target on shares of Interrent Real Estate Investment Trust from C$15.00 to C$14.50 and set a “neutral” rating on the stock in a research report on Friday, November 11th. Raymond James decreased their target price on shares of Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set an “outperform” rating on the stock in a report on Friday, November 11th. Finally, BMO Capital Markets decreased their price objective on shares of Interrent Real Estate Investment Trust from C$15.00 to C$14.50 in a report on Monday, November 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Interrent Real Estate Investment Trust presently has an average rating of “Moderate Buy” and an average price target of C$15.68.

Interrent Real Estate Investment Trust Trading Down 0.6 %

The business’s 50-day simple moving average is C$12.80 and its two-hundred day simple moving average is C$12.36. The company has a debt-to-equity ratio of 64.59, a current ratio of 0.07 and a quick ratio of 0.04. The stock has a market capitalization of C$1.98 billion and a price-to-earnings ratio of 6.52.

Interrent Real Estate Investment Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, December 9th. Shareholders of record on Friday, December 9th were paid a dividend of $0.03 per share. This is a positive change from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.03. The ex-dividend date was Tuesday, November 29th. This represents a $0.36 annualized dividend and a yield of 2.57%. Interrent Real Estate Investment Trust’s payout ratio is presently 15.84%.

Insider Activity

In related news, Director Ronald A. Leslie sold 7,000 shares of the company’s stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of C$12.83, for a total value of C$89,810.00. Following the completion of the sale, the director now owns 76,826 shares of the company’s stock, valued at C$985,677.58.

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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