Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$14.00 at National Bankshares

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price target reduced by National Bankshares from C$15.50 to C$14.00 in a research report report published on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other brokerages also recently weighed in on IIP.UN. CIBC raised their price target on Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a neutral rating in a report on Friday, March 1st. Veritas Investment Research reissued a reduce rating on shares of Interrent Real Estate Investment Trust in a report on Friday, March 1st. TD Securities lowered their price target on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday. Scotiabank decreased 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. Finally, Raymond James lifted their target price on Interrent Real Estate Investment Trust from C$16.00 to C$16.25 and gave the stock a strong-buy rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given 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.com, Interrent Real Estate Investment Trust currently has a consensus rating of Moderate Buy and an average target price of C$15.05.

Interrent Real Estate Investment Trust Price Performance

Shares of TSE IIP.UN opened at C$12.12 on Wednesday. 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 company has a market cap of C$1.76 billion, a PE ratio of 18.94 and a beta of 1.08. The business has a 50-day simple moving average of C$13.33 and a two-hundred day simple moving average of C$12.97. Interrent Real Estate Investment Trust has a fifty-two week low of C$11.43 and a fifty-two week high of C$14.50.

Interrent Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be issued a $0.0315 dividend. This represents a $0.38 dividend on an annualized basis and a 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.