InterRent Real Estate Investment Trust (TSE:IIP.UN) Share Price Crosses Below 50 Day Moving Average – Here’s Why

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of C$10.67 and traded as low as C$10.21. InterRent Real Estate Investment Trust shares last traded at C$10.28, with a volume of 284,854 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IIP.UN shares. National Bankshares increased their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Royal Bank of Canada reduced their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. BMO Capital Markets decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. Finally, TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.92.

InterRent Real Estate Investment Trust Stock Performance

The business’s fifty day moving average price is C$10.67 and its 200-day moving average price is C$11.81. The stock has a market cap of C$1.52 billion, a PE ratio of -514.00 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

InterRent Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a $0.0331 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.40 annualized dividend and a yield of 3.86%. This is a boost from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -1,900.00%.

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.