InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Crosses Above 50-Day Moving Average of $12.58

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$12.58 and traded as high as C$12.90. InterRent Real Estate Investment Trust shares last traded at C$12.90, with a volume of 599,008 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Scotiabank upped their price objective on InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the company an “outperform” rating in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$15.07.

InterRent Real Estate Investment Trust Trading Up 0.2 %

The firm has a market capitalization of C$1.91 billion, a price-to-earnings ratio of -645.00 and a beta of 1.14. The company has a fifty day moving average price of C$12.58 and a 200-day moving average price of C$12.59. 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 Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th were given a dividend of $0.0315 per share. This represents a $0.38 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, July 31st. 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.