InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Cross Above 50 Day Moving Average of $12.00

InterRent Real Estate Investment Trust (TSE:IIP.UN) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$12.00 and traded as high as C$12.23. InterRent Real Estate Investment Trust shares last traded at C$12.09, with a volume of 133,059 shares trading hands.

Wall Street Analyst Weigh In

IIP.UN has been the subject of a number of analyst reports. Cormark lifted their target price on shares of InterRent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. TD Securities cut their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday, April 24th. National Bankshares decreased their target price on InterRent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Raymond James dropped their price target on InterRent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 24th. Finally, Scotiabank raised their price objective on shares of InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.07.

InterRent Real Estate Investment Trust Price Performance

The company has a market capitalization of C$1.76 billion, a P/E ratio of 50.38 and a beta of 1.10. The business’s 50-day moving average is C$12.00 and its two-hundred day moving average is C$12.84. The company has a quick ratio of 0.04, a current ratio of 0.55 and a debt-to-equity ratio of 65.36.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 15th will be paid a $0.0315 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.38 dividend on an annualized basis and a yield of 3.13%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 158.33%.

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.