Scotiabank Cuts Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$14.25

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price lowered by Scotiabank from C$14.75 to C$14.25 in a report released on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on IIP.UN. Laurentian set a C$15.00 price objective on shares of Interrent Real Estate Investment Trust and gave the company a buy rating in a research note on Monday, January 22nd. Royal Bank of Canada raised 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 note on Friday, March 1st. Raymond James lifted their price objective on Interrent Real Estate Investment Trust from C$16.00 to C$16.25 and gave the stock a strong-buy rating in a research report on Friday, March 1st. Cormark raised their price target on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. Finally, Canaccord Genuity Group downgraded Interrent Real Estate Investment Trust from a buy rating to a hold rating and upped their price objective for the company from C$13.50 to C$14.00 in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of C$15.32.

Interrent Real Estate Investment Trust Stock Performance

Shares of IIP.UN stock opened at C$13.69 on Monday. The stock has a fifty day moving average price of C$13.75 and a 200 day moving average price of C$13.00. 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$1.99 billion, a PE ratio of 21.39 and a beta of 1.08. Interrent Real Estate Investment Trust has a 1 year low of C$11.43 and a 1 year high of C$14.50.

Interrent Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Thursday, February 15th. Shareholders of record on Thursday, February 15th were given a dividend of $0.0315 per share. This represents a $0.38 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Tuesday, January 30th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) 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.