InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$14.92.

A number of equities analysts recently commented on the company. Royal Bank of Canada lowered their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. National Bankshares increased their price target on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. BMO Capital Markets decreased their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Finally, TD Securities raised 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 research report on Wednesday, November 6th.

InterRent Real Estate Investment Trust Price Performance

Shares of IIP.UN opened at C$10.05 on Monday. The company’s 50-day moving average price is C$11.09 and its 200 day moving average price is C$11.95. InterRent Real Estate Investment Trust has a 12-month low of C$9.92 and a 12-month high of C$14.50. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The firm has a market cap of C$1.49 billion, a P/E ratio of -502.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a dividend of $0.0315 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.38 dividend on an annualized basis and a yield of 3.76%. InterRent Real Estate Investment Trust’s payout ratio is -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.