InterRent Real Estate Investment Trust (TSE:IIP.UN) Reaches New 12-Month Low – Here’s What Happened

InterRent Real Estate Investment Trust (TSE:IIP.UN) shares reached a new 52-week low during trading on Thursday . The stock traded as low as C$11.48 and last traded at C$11.48, with a volume of 278047 shares traded. The stock had previously closed at C$11.62.

Wall Street Analyst Weigh In

Several research firms have commented on IIP.UN. BMO Capital Markets cut their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$15.07.

InterRent Real Estate Investment Trust Stock Performance

The company has a market capitalization of C$1.64 billion, a price-to-earnings ratio of -554.00 and a beta of 1.13. The stock has a fifty day moving average price of C$12.44 and a two-hundred day moving average price of C$12.28. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be paid a $0.0315 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.38 annualized dividend and a yield of 3.41%. InterRent Real Estate Investment Trust’s payout ratio is currently -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.