InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 52-Week Low After Analyst Downgrade

InterRent Real Estate Investment Trust (TSE:IIP.UN) reached a new 52-week low on Wednesday after Royal Bank of Canada lowered their price target on the stock from C$16.50 to C$15.00. The stock traded as low as C$10.84 and last traded at C$10.94, with a volume of 143154 shares traded. The stock had previously closed at C$11.24.

IIP.UN has been the subject of several other research reports. National Bankshares increased 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. TD Securities raised 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 note on Wednesday. Finally, BMO Capital Markets decreased their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$14.93.

InterRent Real Estate Investment Trust Stock Performance

The business’s 50 day simple moving average is C$12.34 and its two-hundred day simple moving average is C$12.26. The firm has a market capitalization of C$1.62 billion, a PE ratio of -547.50 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.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be paid a $0.0315 dividend. This represents a $0.38 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) 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.