InterRent Real Estate Investment Trust (IIP.UN) To Go Ex-Dividend on December 31st

InterRent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.0331 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Tuesday, December 31st. This is a boost from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03.

InterRent Real Estate Investment Trust Stock Performance

Shares of TSE IIP.UN traded down C$0.04 during midday trading on Friday, hitting C$10.09. 535,937 shares of the company’s stock were exchanged, compared to its average volume of 390,386. InterRent Real Estate Investment Trust has a twelve month low of C$9.92 and a twelve month high of C$14.50. The firm has a market cap of C$1.49 billion, a P/E ratio of -504.50 and a beta of 1.13. The stock’s 50 day moving average price is C$10.90 and its 200-day moving average price is C$11.88. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04.

Wall Street Analyst Weigh In

A number of analysts have commented on IIP.UN shares. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a research report on Wednesday, November 6th. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Royal Bank of Canada cut their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. Finally, BMO Capital Markets dropped their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, InterRent Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$14.92.

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.