Interrent Real Estate Investment Trust (TSE:IIP.UN) Given New C$15.75 Price Target at Scotiabank

Interrent Real Estate Investment Trust (TSE:IIP.UN – Get Rating) had its price target lifted by Scotiabank from C$15.50 to C$15.75 in a research note published on Wednesday, BayStreet.CA reports.

IIP.UN has been the subject of a number of other research reports. Royal Bank of Canada upped their price objective on shares of Interrent Real Estate Investment Trust from C$16.50 to C$17.00 and gave the stock an outperform rating in a research report on Wednesday. National Bankshares increased their price target on shares of Interrent Real Estate Investment Trust from C$15.75 to C$16.00 and gave the company an outperform rating in a report on Wednesday. Raymond James cut their price target on shares of Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set an outperform rating for the company in a report on Friday, November 11th. TD Securities downgraded shares of Interrent Real Estate Investment Trust from a buy rating to a hold rating and increased their price target for the company from C$14.50 to C$16.00 in a report on Wednesday. Finally, Canaccord Genuity Group increased their price target on shares of Interrent Real Estate Investment Trust from C$14.50 to C$15.50 in a report on Friday, January 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of C$15.91.

Interrent Real Estate Investment Trust Stock Down 4.8 %

Shares of Interrent Real Estate Investment Trust stock opened at C$13.79 on Wednesday. The company has a market cap of C$1.95 billion, a P/E ratio of 6.41 and a beta of 0.97. The company has a debt-to-equity ratio of 64.58, a quick ratio of 0.04 and a current ratio of 0.07. Interrent Real Estate Investment Trust has a one year low of C$10.79 and a one year high of C$16.65. The firm has a fifty day moving average of C$14.19 and a two-hundred day moving average of C$12.80.

Interrent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Wednesday, February 15th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, January 30th. This represents a $0.36 annualized dividend and a yield of 2.61%. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 16.74%.

Insider Buying and Selling at Interrent Real Estate Investment Trust

In other Interrent Real Estate Investment Trust news, Director Ronald A. Leslie sold 7,000 shares of the firm’s stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of C$12.83, for a total transaction of C$89,810.00. Following the completion of the transaction, the director now directly owns 76,826 shares in the company, valued at approximately C$985,677.58. 3.27% of the stock is currently owned by insiders.

About Interrent Real Estate Investment Trust

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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.