Interrent Real Estate Investment Trust (TSE:IIP.UN) PT Lowered to C$14.00

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective decreased by TD Securities from C$15.00 to C$14.00 in a report issued on Wednesday morning, BayStreet.CA reports.

IIP.UN has been the topic of several other reports. Cormark increased their price objective on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. Royal Bank of Canada increased their price objective on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an outperform rating in a research note on Friday, March 1st. BMO Capital Markets increased their price objective on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. Scotiabank reduced their price objective 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 note on Monday, March 25th. Finally, National Bankshares increased their price objective on Interrent Real Estate Investment Trust from C$15.25 to C$15.50 and gave the company an outperform rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Interrent Real Estate Investment Trust currently has an average rating of Moderate Buy and a consensus price target of C$15.05.

Interrent Real Estate Investment Trust Trading Down 0.9 %

IIP.UN opened at C$12.15 on Wednesday. Interrent Real Estate Investment Trust has a 52 week low of C$11.43 and a 52 week high of C$14.50. The business has a fifty day simple moving average of C$13.39 and a 200-day simple moving average of C$12.98. The firm has a market cap of C$1.76 billion, a P/E ratio of 18.98 and a beta of 1.08. The company has a quick ratio of 0.04, a current ratio of 0.14 and a debt-to-equity ratio of 66.88.

Interrent Real Estate Investment Trust Announces Dividend

The firm also recently declared 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 3.11%. The ex-dividend date is Monday, April 29th. Interrent Real Estate Investment Trust’s dividend payout ratio is presently 59.38%.

About Interrent Real Estate Investment Trust

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.