Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Cut to C$14.00 by Analysts at TD Securities

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective trimmed by TD Securities from C$15.00 to C$14.00 in a research report report published on Wednesday morning, BayStreet.CA reports.

IIP.UN has been the subject of a number of other reports. Raymond James raised their price target on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.25 and gave the company a strong-buy rating in a report on Friday, March 1st. BMO Capital Markets raised their price target on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a report on Monday, March 4th. 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 report on Friday, March 1st. Laurentian set a C$15.00 price objective on shares of Interrent Real Estate Investment Trust and gave the stock a buy rating in a report on Monday, January 22nd. Finally, National Bankshares raised their price objective on shares of Interrent Real Estate Investment Trust from C$15.25 to C$15.50 and gave the stock an outperform rating in a report on Friday, March 1st. One 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, 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 Price Performance

IIP.UN opened at C$12.12 on Wednesday. The company has a fifty day simple moving average of C$13.33 and a 200 day simple moving average of C$12.97. The firm has a market cap of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08. 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 current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88.

Interrent Real Estate Investment Trust Announces Dividend

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