InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 52-Week Low – Here’s Why

InterRent Real Estate Investment Trust (TSE:IIP.UN) hit a new 52-week low on Thursday . The stock traded as low as C$9.90 and last traded at C$9.91, with a volume of 19294 shares trading hands. The stock had previously closed at C$10.01.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IIP.UN shares. Royal Bank of Canada decreased their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Raymond James lowered their price target on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research report on Monday. National Bankshares lifted their price objective on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. TD Securities raised 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 research report on Wednesday, November 6th. Finally, BMO Capital Markets reduced their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$14.61.

InterRent Real Estate Investment Trust Trading Down 0.9 %

The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The stock has a market cap of C$1.47 billion, a P/E ratio of -496.00 and a beta of 1.13. The firm’s fifty day moving average price is C$10.47 and its two-hundred day moving average price is C$11.73.

InterRent Real Estate Investment Trust Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were paid a $0.0331 dividend. This is a positive change from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. This represents a $0.40 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Tuesday, December 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is currently -1,900.00%.

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.