Brokerages Set Interrent Real Estate Investment Trust (TSE:IIP.UN) PT at C$15.32

Interrent Real Estate Investment Trust (TSE:IIP.UN) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One investment 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. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$15.32.

IIP.UN has been the topic of a number of research reports. Scotiabank lowered their target price 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 research report on Monday, March 25th. Veritas Investment Research restated a “reduce” rating on shares of Interrent Real Estate Investment Trust in a research report on Friday, March 1st. Cormark raised their target price on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. Canaccord Genuity Group lowered shares of Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating and raised their target price for the stock from C$13.50 to C$14.00 in a research report on Wednesday, December 20th. Finally, 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 company an “outperform” rating in a research report on Friday, March 1st.

Interrent Real Estate Investment Trust Stock Up 0.6 %

IIP.UN stock opened at C$12.75 on Friday. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88. The stock has a market cap of C$1.85 billion, a P/E ratio of 19.92 and a beta of 1.08. The company’s 50 day moving average is C$13.71 and its two-hundred day moving average is C$13.01. Interrent Real Estate Investment Trust has a twelve month low of C$11.43 and a twelve month high of C$14.50.

Interrent Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 15th were given a $0.0315 dividend. The ex-dividend date was Tuesday, January 30th. This represents a $0.38 dividend on an annualized basis and a yield of 2.96%. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is 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.