Desjardins Brokers Cut Earnings Estimates for InterRent REIT

InterRent REIT (TSE:IIP) – Equities researchers at Desjardins reduced their FY2024 EPS estimates for shares of InterRent REIT in a research report issued on Tuesday, November 5th. Desjardins analyst K. Stanley now expects that the company will post earnings of $0.61 per share for the year, down from their previous forecast of $0.62. Desjardins also issued estimates for InterRent REIT’s Q4 2024 earnings at $0.15 EPS, FY2025 earnings at $0.66 EPS and FY2026 earnings at $0.69 EPS.

Separately, Raymond James lowered InterRent REIT from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday.

InterRent REIT Stock Performance

InterRent REIT has a fifty-two week low of C$7.31 and a fifty-two week high of C$10.19.

InterRent REIT (TSE:IIP) last posted its earnings results on Tuesday, August 6th. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.16 by C($0.17). The business had revenue of C$61.44 million during the quarter.

InterRent REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.032 per share. This represents a $0.38 annualized dividend and a dividend yield of ∞. The ex-dividend date is Thursday, October 31st.

InterRent REIT Company Profile

InterRent Real Estate Investment Trust is a real estate investment trust focused on acquisition, holding, leasing or managing of multi-unit residential properties and real estate ventures. Its portfolio consists of approximately 70 Properties containing over 8,050 suites. Approximately 2,980 suites are located in mid-sized population markets, with the remaining 5,075 suites located in the Greater Toronto Area (GTA), Montreal and the National Capital Region (NCR).