InterRent Real Estate Investment Trust (TSE:IIP.UN) Declares Monthly Dividend of $0.03

InterRent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.0331 per share by the real estate investment trust on Tuesday, February 18th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, January 31st.

InterRent Real Estate Investment Trust Price Performance

TSE:IIP.UN opened at C$9.75 on Wednesday. InterRent Real Estate Investment Trust has a 52 week low of C$9.63 and a 52 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. The stock has a market capitalization of C$1.44 billion, a PE ratio of -487.50 and a beta of 1.13. The stock’s 50-day moving average price is C$10.27 and its 200-day moving average price is C$11.60.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IIP.UN. BMO Capital Markets lowered their price objective on 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 price target on the stock in a research report on Wednesday, November 6th. Royal Bank of Canada cut their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Finally, Raymond James cut their target price on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.56.

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.