Brokerages Set InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target at C$14.92

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$14.92.

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. TD Securities raised shares of 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 report on Wednesday, November 6th. BMO Capital Markets reduced their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. Finally, National Bankshares increased their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th.

InterRent Real Estate Investment Trust Price Performance

InterRent Real Estate Investment Trust stock opened at C$10.13 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The firm has a market capitalization of C$1.50 billion, a P/E ratio of -506.50 and a beta of 1.13. The business has a 50-day moving average of C$11.02 and a 200-day moving average of C$11.93. InterRent Real Estate Investment Trust has a 1 year low of C$9.92 and a 1 year high of C$14.50.

InterRent Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be issued a $0.0331 dividend. This represents a $0.40 annualized dividend and a yield of 3.92%. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. The ex-dividend date of this dividend is Tuesday, December 31st. InterRent Real Estate Investment Trust’s payout ratio is -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.