Scotiabank Cuts InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$12.25

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price cut by Scotiabank from C$12.50 to C$12.25 in a research report report published on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on IIP.UN. Royal Bank of Canada reduced their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. CIBC cut their price target 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. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target for the company in a report on Wednesday, November 6th. Finally, Raymond James cut their price target 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. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.4 %

IIP.UN opened at C$9.79 on Wednesday. The business has a 50 day moving average price of C$9.96 and a 200 day moving average price of C$11.16. InterRent Real Estate Investment Trust has a twelve month low of C$9.40 and a twelve month high of C$14.40. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The firm has a market cap of C$1.45 billion, a P/E ratio of -489.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, January 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.