InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price boosted by Canaccord Genuity Group from C$12.00 to C$12.50 in a research report sent to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

IIP.UN has been the topic of several other reports. TD Securities raised 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. Scotiabank cut their price target on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research report on Wednesday. Royal Bank of Canada cut their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. Raymond James cut their price target on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, CIBC cut their price target on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Price Performance

TSE IIP.UN opened at C$9.93 on Wednesday. The stock’s fifty day moving average price is C$9.98 and its 200 day moving average price is C$11.22. The company has a market cap of C$1.47 billion, a price-to-earnings ratio of -496.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$14.40.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Friday, January 31st. InterRent Real Estate Investment Trust’s 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.