Interrent Real Estate Investment Trust (TSE:IIP.UN) to Issue Monthly Dividend of $0.03

Interrent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.0315 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.38 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Monday, April 29th.

Interrent Real Estate Investment Trust Stock Down 0.1 %

IIP.UN opened at C$12.12 on Friday. Interrent Real Estate Investment Trust has a one year low of C$11.43 and a one year high of C$14.50. The company has a market capitalization of C$1.76 billion, a PE ratio of 18.94 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 stock’s fifty day moving average is C$13.33 and its 200-day moving average is C$12.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IIP.UN shares. Scotiabank reduced their target price on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating for the company in a report on Monday, March 25th. Cormark increased their price objective on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a report on Friday, March 15th. TD Securities lowered their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday. Raymond James lowered their target price on 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. Finally, Laurentian set a C$15.00 price objective on Interrent Real Estate Investment Trust and gave the stock a “buy” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, three have issued 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, Interrent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$15.05.

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.