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) 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 trading hands. The stock had previously closed at C$11.62.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IIP.UN shares. BMO Capital Markets cut their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. National Bankshares lifted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, InterRent Real Estate Investment Trust has a consensus rating of “Moderate Buy” and a consensus price target of C$15.07.

InterRent Real Estate Investment Trust Stock Down 2.7 %

The stock has a market cap of C$1.64 billion, a PE ratio of -554.00 and a beta of 1.13. 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 business has a 50-day moving average price of C$12.44 and a 200-day moving average price of C$12.28.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently disclosed 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. This represents a $0.38 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, October 31st. 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.