InterRent REIT (TSE:IIP) Cut to Moderate Buy at Raymond James

Raymond James lowered shares of InterRent REIT (TSE:IIP) from a strong-buy rating to a moderate buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports. Raymond James also issued estimates for InterRent REIT’s FY2024 earnings at $0.61 EPS, Q1 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.17 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.67 EPS, Q2 2026 earnings at $0.18 EPS, Q3 2026 earnings at $0.19 EPS and FY2026 earnings at $0.74 EPS.

InterRent REIT Price Performance

InterRent REIT has a 12-month low of C$7.31 and a 12-month 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 analysts’ consensus estimates of C$0.16 by C($0.17). The business had revenue of C$61.44 million for the quarter.

InterRent REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.032 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.38 dividend on an annualized basis and a yield of ∞.

About InterRent REIT

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).