Interrent Real Estate Investment Trust (TSE:IIP.UN) PT Lowered to C$15.75

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price reduced by Raymond James from C$16.25 to C$15.75 in a research note published on Wednesday morning, BayStreet.CA reports. They currently have a strong-buy rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on IIP.UN. Royal Bank of Canada lifted their price objective on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an outperform rating in a research report on Friday, March 1st. Veritas Investment Research reiterated a reduce rating on shares of Interrent Real Estate Investment Trust in a research report on Friday, March 1st. BMO Capital Markets lifted their price objective on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. CIBC lifted their price objective on shares of Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Finally, Scotiabank lowered their price target on shares of Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an outperform rating on the stock in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Interrent Real Estate Investment Trust currently has an average rating of Moderate Buy and a consensus price target of C$15.05.

Interrent Real Estate Investment Trust Trading Down 0.1 %

TSE IIP.UN opened at C$12.12 on Wednesday. Interrent Real Estate Investment Trust has a twelve month low of C$11.43 and a twelve month high of C$14.50. 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 has a market cap of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08. The firm’s 50 day moving average price is C$13.33 and its two-hundred day moving average price is C$12.97.

Interrent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be paid a $0.0315 dividend. This represents a $0.38 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, April 29th. Interrent Real Estate Investment Trust’s payout ratio is presently 59.38%.

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.