Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Raised to C$16.00 at Raymond James

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price raised by Raymond James from C$15.50 to C$16.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports.

IIP.UN has been the topic of several other research reports. National Bank Financial lifted their target price on shares of Interrent Real Estate Investment Trust from C$14.00 to C$14.50 and gave the stock a sector perform rating in a report on Wednesday, May 1st. TD Securities dropped their target price on shares of Interrent Real Estate Investment Trust from C$16.50 to C$16.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of C$15.43.

IIP.UN traded down C$0.31 during trading on Thursday, hitting C$14.70. The stock had a trading volume of 255,573 shares, compared to its average volume of 192,961. The stock has a market capitalization of $1.56 billion and a price-to-earnings ratio of 7.77. Interrent Real Estate Investment Trust has a 12 month low of C$10.71 and a 12 month high of C$14.79. The company has a current ratio of 0.08, a quick ratio of 0.02 and a debt-to-equity ratio of 72.93. The company has a 50 day simple moving average of C$14.23.

The business also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be given a $0.0242 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.29 annualized dividend and a yield of 1.98%. Interrent Real Estate Investment Trust’s dividend payout ratio is 15.32%.

In related news, Senior Officer Michael Robert Clancy purchased 2,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were bought at an average cost of C$13.75 per share, for a total transaction of C$27,500.00. Following the transaction, the insider now directly owns 55,814 shares of the company’s stock, valued at approximately C$767,442.50.

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.

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Analyst Recommendations for Interrent Real Estate Investment Trust (TSE:IIP.UN)

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