Interrent Real Estate Investment Trust (TSE:IIP.UN – Free Report) had its price target reduced by National Bankshares from C$15.50 to C$14.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the real estate investment trust’s stock.
Several other analysts also recently issued reports on IIP.UN. Raymond James raised their price target 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. 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. Cormark lifted their target price on Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a report on Friday, March 15th. CIBC lifted their target price 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. Finally, Veritas Investment Research reiterated a reduce rating on shares of Interrent Real Estate Investment Trust in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of C$15.05.
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Interrent Real Estate Investment Trust Price Performance
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 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 dividend 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.
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