InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

InterRent Real Estate Investment Trust (TSE:IIP.UN) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$11.11 and traded as low as C$9.93. InterRent Real Estate Investment Trust shares last traded at C$9.98, with a volume of 550,201 shares trading hands.

Wall Street Analysts Forecast Growth

IIP.UN has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. CIBC cut their price target 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. Canaccord Genuity Group upped their price objective 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 InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, National Bankshares upped their target price on InterRent Real Estate Investment Trust from C$12.00 to C$12.25 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Down 0.1 %

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 business’s fifty day moving average price is C$9.95 and its 200 day moving average price is C$11.11. The firm has a market capitalization of C$1.48 billion, a PE ratio of -499.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th were given 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 3.98%. InterRent Real Estate Investment Trust’s payout ratio is -1,900.00%.

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.