Canaccord Genuity Group Issues Positive Forecast for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target hoisted by Canaccord Genuity Group from C$12.00 to C$12.50 in a research report sent to investors on Wednesday,BayStreet.CA reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on IIP.UN. Raymond James lowered their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a report on Wednesday. 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 report on Wednesday, November 6th. Royal Bank of Canada lowered their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Scotiabank lowered their target price on InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating for the company in a report on Wednesday. Finally, CIBC reduced their price target on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$13.50.

InterRent Real Estate Investment Trust Stock Up 0.3 %

InterRent Real Estate Investment Trust stock opened at C$9.93 on Wednesday. The business has a fifty day moving average of C$9.98 and a two-hundred day moving average of C$11.22. 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 firm has a market cap of C$1.47 billion, a P/E ratio of -496.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a twelve month low of C$9.40 and a twelve month high of C$14.40.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, January 31st. InterRent Real Estate Investment Trust’s payout ratio is presently -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.