InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Raised to C$12.50

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective hoisted by Canaccord Genuity Group from C$12.00 to C$12.50 in a research note released on Wednesday,BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. Scotiabank dropped their price objective on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating for the company in a report on Wednesday. Raymond James dropped their price objective on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a report on Wednesday. Royal Bank of Canada dropped their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Wednesday, November 6th. Finally, CIBC dropped their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

TSE:IIP.UN opened at C$9.79 on Wednesday. The stock has a market cap of C$1.45 billion, a P/E ratio of -489.50 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. The stock has a 50 day simple moving average of C$9.96 and a 200 day simple moving average of C$11.16. 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 Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th were paid a $0.0331 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.40 annualized dividend and a dividend yield of 4.06%. 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.