InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives C$13.50 Average Price Target from Brokerages

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have received a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have covered the stock in the last year is C$13.50.

A number of equities research analysts have recently weighed in on IIP.UN shares. Canaccord Genuity Group lifted their target price on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Raymond James cut their target price on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. National Bankshares lifted their target price on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.25 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. CIBC cut their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank dropped their price objective on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th.

InterRent Real Estate Investment Trust Trading Down 2.6 %

Shares of IIP.UN opened at C$10.22 on Friday. The firm’s 50-day moving average price is C$9.96 and its 200-day moving average price is C$11.03. The firm has a market capitalization of C$1.51 billion, a price-to-earnings ratio of -511.00 and a beta of 1.13. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. InterRent Real Estate Investment Trust has a 1-year low of C$9.40 and a 1-year high of C$14.40.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were given a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Friday, January 31st. 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.