InterRent Real Estate Investment Trust (TSE:IIP.UN) Given New C$14.50 Price Target at Royal Bank of Canada

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target cut by Royal Bank of Canada from C$15.00 to C$14.50 in a research note released on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Raymond James reduced 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. Canaccord Genuity Group boosted their price target on InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a “buy” rating in a report on Wednesday. CIBC reduced their price target 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. Scotiabank cut their price objective on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, TD Securities raised 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. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, InterRent Real Estate Investment Trust currently has an average rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.4 %

Shares of TSE:IIP.UN opened at C$9.79 on Wednesday. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$14.40. The company has a market cap of C$1.45 billion, a PE ratio of -489.50 and a beta of 1.13. 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’s 50-day moving average is C$9.96 and its 200 day moving average is C$11.16.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Tuesday, February 18th. Shareholders 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 annualized dividend and a yield of 4.06%. 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.