InterRent Real Estate Investment Trust (TSE:IIP.UN) Given Average Rating of “Moderate Buy” by Brokerages

InterRent Real Estate Investment Trust (TSE:IIP.UN) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com 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 price objective among brokerages that have covered the stock in the last year is C$15.07.

A number of research analysts have issued reports on IIP.UN shares. Royal Bank of Canada lifted their price objective on InterRent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an “outperform” rating in a research note on Friday, March 1st. CIBC upped their price target on shares of InterRent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. National Bankshares decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Veritas Investment Research reiterated a “reduce” rating on shares of InterRent Real Estate Investment Trust in a report on Friday, March 1st. Finally, TD Securities decreased their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday, April 24th.

InterRent Real Estate Investment Trust Stock Performance

Shares of IIP.UN opened at C$12.01 on Friday. InterRent Real Estate Investment Trust has a one year low of C$11.43 and a one year high of C$14.50. The company has a 50-day simple moving average of C$12.57 and a two-hundred day simple moving average of C$12.93. The company has a debt-to-equity ratio of 65.36, a current ratio of 0.51 and a quick ratio of 0.04. The firm has a market capitalization of C$1.75 billion, a PE ratio of 50.04 and a beta of 1.10.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.0315 per share. This represents a $0.38 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Monday, April 29th. InterRent Real Estate Investment Trust’s dividend payout ratio is presently 158.33%.

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.