InterRent REIT FY2024 EPS Cut by National Bank Financial

InterRent REIT (TSE:IIP) – Research analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of InterRent REIT in a research report issued to clients and investors on Tuesday, November 5th. National Bank Financial analyst M. Kornack now expects that the company will earn $0.61 per share for the year, down from their previous forecast of $0.62. National Bank Financial also issued estimates for InterRent REIT’s FY2025 earnings at $0.66 EPS.

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

InterRent REIT Price Performance

InterRent REIT has a 1-year low of C$7.31 and a 1-year high of C$10.19.

InterRent REIT (TSE:IIP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.17). The company had revenue of C$61.44 million for the quarter.

InterRent REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.032 dividend. This represents a $0.38 dividend on an annualized basis 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).