National Bankshares Lowers Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$14.00

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price reduced by National Bankshares from C$15.50 to C$14.00 in a research note released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on IIP.UN. Scotiabank dropped their price target on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an outperform rating for the company in a research note on Monday, March 25th. TD Securities lowered their target price on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Wednesday. Cormark boosted their target price on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. Laurentian set a C$15.00 target price on Interrent Real Estate Investment Trust and gave the company a buy rating in a research note on Monday, January 22nd. Finally, BMO Capital Markets boosted their target price on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of C$15.05.

Interrent Real Estate Investment Trust Trading Down 0.9 %

Shares of IIP.UN stock opened at C$12.15 on Wednesday. The company has a quick ratio of 0.04, a current ratio of 0.14 and a debt-to-equity ratio of 66.88. The business has a 50-day moving average price of C$13.39 and a two-hundred day moving average price of C$12.98. Interrent Real Estate Investment Trust has a 12-month low of C$11.43 and a 12-month high of C$14.50. The firm has a market cap of C$1.76 billion, a P/E ratio of 18.98 and a beta of 1.08.

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 given a dividend of $0.0315 per share. 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 payout ratio is 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.