InterRent Real Estate Investment Trust (TSE:IIP.UN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$14.92.

A number of brokerages have weighed in on IIP.UN. BMO Capital Markets cut their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. TD Securities raised shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research note on Wednesday, November 6th. National Bankshares lifted 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. Finally, Royal Bank of Canada cut their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th.

InterRent Real Estate Investment Trust Trading Down 0.4 %

Shares of IIP.UN stock opened at C$10.09 on Monday. The stock has a 50-day simple moving average of C$10.90 and a 200 day simple moving average of C$11.88. The stock has a market capitalization of C$1.49 billion, a P/E ratio of -504.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.92 and a fifty-two week high of C$14.50. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59.

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 given a dividend of $0.0331 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.40 dividend on an annualized basis and a yield of 3.94%. This is a boost from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -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.