InterRent Real Estate Investment Trust (TSE:IIP.UN) Given New C$13.50 Price Target at CIBC

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target decreased by CIBC from C$15.00 to C$13.50 in a research note issued to investors on Wednesday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on IIP.UN. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price on the stock in a report on Wednesday, November 6th. Raymond James dropped their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada dropped their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.3 %

IIP.UN stock opened at C$9.93 on Wednesday. InterRent Real Estate Investment Trust has a twelve month low of C$9.40 and a twelve month high of C$14.40. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The stock’s 50 day moving average is C$9.98 and its 200-day moving average is C$11.22. The firm has a market capitalization of C$1.47 billion, a PE ratio of -496.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were issued a dividend of $0.0331 per share. The ex-dividend date was Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a yield of 4.00%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -1,900.00%.

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.