InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 1-Year Low – Time to Sell?

by · The Markets Daily

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN – Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as C$9.63 and last traded at C$9.70, with a volume of 140644 shares trading hands. The stock had previously closed at C$9.75.

Analysts Set New Price Targets

IIP.UN has been the subject of several research analyst reports. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research note on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. National Bankshares increased their price objective on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Raymond James cut their target price on shares of InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research note on Monday, January 13th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, InterRent Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.56.

Read Our Latest Stock Analysis on InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust Price Performance

The business’s 50-day simple moving average is C$10.25 and its two-hundred day simple moving average is C$11.58. The stock has a market cap of C$1.44 billion, a price-to-earnings ratio of -488.50 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.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a $0.0331 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a yield of 4.07%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -1,900.00%.

About InterRent Real Estate Investment Trust

(Get Free Report)

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.

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