InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives C$15.05 Average PT from Analysts

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$15.05.

Several equities analysts have commented on IIP.UN shares. Royal Bank of Canada increased their target price 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. Laurentian set a C$15.00 target price on shares of InterRent Real Estate Investment Trust and gave the stock a “buy” rating in a report on Monday, January 22nd. Cormark upped their price target on shares of InterRent Real Estate Investment Trust from C$15.25 to C$16.00 in a report on Friday, March 15th. Scotiabank dropped their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Finally, BMO Capital Markets increased their target price on InterRent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th.

InterRent Real Estate Investment Trust Trading Up 0.4 %

InterRent Real Estate Investment Trust stock opened at C$12.16 on Tuesday. InterRent Real Estate Investment Trust has a 12 month low of C$11.43 and a 12 month high of C$14.50. The company has a quick ratio of 0.04, a current ratio of 0.14 and a debt-to-equity ratio of 66.88. The stock has a market cap of C$1.76 billion, a P/E ratio of 19.00 and a beta of 1.08. The company’s fifty day simple moving average is C$13.08 and its 200-day simple moving average is C$12.93.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 15th will be given a $0.0315 dividend. This represents a $0.38 annualized dividend and a yield of 3.11%. The ex-dividend date is Monday, April 29th. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 59.38%.

About InterRent Real Estate Investment Trust

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.