InterRent Real Estate Investment Trust (TSE:IIP.UN) Sets New 12-Month Low – What’s Next?

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as C$9.90 and last traded at C$9.91, with a volume of 19294 shares changing hands. The stock had previously closed at C$10.01.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IIP.UN. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Wednesday, November 6th. Raymond James decreased 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. Royal Bank of Canada dropped their price target on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. BMO Capital Markets decreased their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Finally, National Bankshares upped their target price on shares of 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, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$14.61.

InterRent Real Estate Investment Trust Stock Performance

The company has a market capitalization of C$1.47 billion, a price-to-earnings ratio of -496.00 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. The stock has a 50 day moving average of C$10.47 and a 200 day moving average of C$11.73.

InterRent Real Estate Investment Trust Increases Dividend

The business also recently declared a monthly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were paid a $0.0331 dividend. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. This represents a $0.40 annualized dividend and a yield of 4.00%. The ex-dividend date was Tuesday, December 31st. InterRent Real Estate Investment Trust’s payout ratio is -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.