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

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) have earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is C$13.50.

Several research analysts have issued reports on IIP.UN shares. Canaccord Genuity Group increased their price objective on InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. CIBC reduced their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.50 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. National Bankshares lifted their price target on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.25 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Raymond James lowered their price target on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Wednesday, February 26th.

InterRent Real Estate Investment Trust Price Performance

Shares of TSE:IIP.UN opened at C$10.03 on Friday. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The company has a 50-day moving average price of C$9.95 and a 200 day moving average price of C$11.08. InterRent Real Estate Investment Trust has a 52 week low of C$9.40 and a 52 week high of C$14.40. The company has a market cap of C$1.48 billion, a P/E ratio of -501.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were given a dividend of $0.0331 per share. The ex-dividend date was Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a yield of 3.96%. 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.