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

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) hit a new 52-week low during trading on Wednesday . The company traded as low as C$10.69 and last traded at C$10.71, with a volume of 32413 shares trading hands. The stock had previously closed at C$10.84.

Analysts Set New Price Targets

IIP.UN has been the topic of a number of analyst reports. National Bankshares boosted 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. Royal Bank of Canada dropped 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 cut their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Finally, TD Securities raised shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$14.93.

InterRent Real Estate Investment Trust Stock Up 0.4 %

The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The stock has a market cap of C$1.60 billion, a P/E ratio of -538.00 and a beta of 1.13. The stock’s fifty day moving average price is C$11.96 and its 200 day moving average price is C$12.18.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0315 per share. This represents a $0.38 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) 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.