Interrent Real Estate Investment Trust (TSE:IIP.UN) Stock Price Crosses Below Fifty Day Moving Average of $13.44

Interrent Real Estate Investment Trust (TSE:IIP.UN)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$13.44 and traded as low as C$12.06. Interrent Real Estate Investment Trust shares last traded at C$12.24, with a volume of 259,141 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Laurentian set a C$15.00 price target on Interrent Real Estate Investment Trust and gave the company a “buy” rating in a report on Monday, January 22nd. Royal Bank of Canada raised their price target on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an “outperform” rating in a report on Friday, March 1st. Raymond James lifted their price objective on Interrent Real Estate Investment Trust from C$16.00 to C$16.25 and gave the stock a “strong-buy” rating in a report on Friday, March 1st. Scotiabank reduced their price objective on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating for the company in a report on Monday, March 25th. Finally, Cormark lifted their price objective on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a report on Friday, March 15th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$15.32.

Interrent Real Estate Investment Trust Trading Up 1.7 %

The stock has a fifty day moving average of C$13.44 and a 200 day moving average of C$12.99. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.04 and a current ratio of 0.14. The company has a market capitalization of C$1.78 billion, a PE ratio of 19.13 and a beta of 1.08.

Interrent Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be paid a $0.0315 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, April 29th. Interrent Real Estate Investment Trust’s payout ratio is 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.