Scotiabank Issues Pessimistic Forecast for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price trimmed by Scotiabank from C$12.50 to C$12.25 in a report issued on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

IIP.UN has been the topic of several other research reports. Raymond James decreased their target price 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. CIBC decreased their target price on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Finally, 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 report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

Shares of TSE:IIP.UN opened at C$9.79 on Wednesday. The business’s fifty day moving average price is C$9.96 and its two-hundred day moving average price is C$11.16. 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 stock has a market capitalization of C$1.45 billion, a price-to-earnings ratio of -489.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.40 and a fifty-two week high of C$14.40.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, January 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -1,900.00%.

InterRent Real Estate Investment Trust Company Profile

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.