Interrent Real Estate Investment Trust (TSE:IIP.UN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$15.05.

Several equities analysts have recently commented on the company. CIBC boosted their price objective on Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. BMO Capital Markets boosted their target price on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a report on Monday, March 4th. Raymond James reduced their price target on shares of Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating on the stock in a report on Wednesday, April 24th. TD Securities cut their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada increased 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 research note on Friday, March 1st.

Interrent Real Estate Investment Trust Stock Down 0.4 %

IIP.UN opened at C$12.07 on Tuesday. The stock has a market cap of C$1.75 billion, a price-to-earnings ratio of 18.86 and a beta of 1.08. 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 firm’s fifty day moving average is C$13.29 and its 200 day moving average is C$12.96. Interrent Real Estate Investment Trust has a fifty-two week low of C$11.43 and a fifty-two week high of C$14.50.

Interrent Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th will be issued a $0.0315 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.38 annualized dividend and a dividend yield of 3.13%. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) 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.