InterRent Real Estate Investment Trust (TSE:IIP.UN – Get Free Report)’s stock price reached a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from C$16.50 to C$15.00. The stock traded as low as C$10.84 and last traded at C$10.94, with a volume of 143154 shares. The stock had previously closed at C$11.24.
Other research analysts also recently issued research reports about the company. TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective on the stock in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Finally, National Bankshares upped their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$14.93.
Check Out Our Latest Research Report on IIP.UN
InterRent Real Estate Investment Trust Price Performance
InterRent Real Estate Investment Trust Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a $0.0315 dividend. This represents a $0.38 annualized dividend and a yield of 3.45%. The ex-dividend date is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -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.
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