InterRent Real Estate Investment Trust (TSE:IIP.UN) Given Average Recommendation of “Moderate Buy” by Brokerages

InterRent Real Estate Investment Trust (TSE:IIP.UN) has received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$14.93.

Several research analysts have recently weighed in on IIP.UN shares. National Bankshares upped their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Royal Bank of Canada reduced their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective on the stock in a report on Wednesday, November 6th. Finally, BMO Capital Markets reduced their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE IIP.UN opened at C$10.55 on Thursday. The company has a fifty day moving average price of C$11.74 and a 200 day moving average price of C$12.13. The firm has a market cap of C$1.56 billion, a PE ratio of -527.50 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 has a 1-year low of C$10.50 and a 1-year high of C$14.50.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0315 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.38 annualized dividend and a yield of 3.58%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -1,900.00%.

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.