InterRent Real Estate Investment Trust (TSE:IIP.UN) Share Price Passes Below Fifty Day Moving Average – Time to Sell?

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$10.67 and traded as low as C$10.21. InterRent Real Estate Investment Trust shares last traded at C$10.28, with a volume of 284,854 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on the company. Royal Bank of Canada decreased their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. BMO Capital Markets decreased their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. National Bankshares raised their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Finally, TD Securities upgraded shares of 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$14.92.

InterRent Real Estate Investment Trust Stock Performance

The company has a 50-day moving average price of C$10.67 and a two-hundred day moving average price of C$11.81. The company has a market capitalization of C$1.52 billion, a PE ratio of -514.00 and a beta of 1.13. 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 Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be paid a $0.0331 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. This represents a $0.40 annualized dividend and a yield of 3.86%. InterRent Real Estate Investment Trust’s dividend payout ratio 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.