InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$13.00 at Raymond James

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective decreased by Raymond James from C$14.00 to C$13.00 in a report published on Monday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on IIP.UN. BMO Capital Markets lowered their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price on the stock in a research note on Wednesday, November 6th. 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 note on Wednesday, November 6th. Finally, National Bankshares increased 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.61.

InterRent Real Estate Investment Trust Price Performance

Shares of IIP.UN opened at C$10.07 on Monday. The company’s 50-day moving average is C$10.51 and its 200-day moving average is C$11.76. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The firm has a market capitalization of C$1.49 billion, a PE ratio of -503.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.91 and a fifty-two week high of C$14.50.

InterRent Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.0331 per share. This is a positive change from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. This represents a $0.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Tuesday, December 31st. InterRent Real Estate Investment Trust’s dividend 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.