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

InterRent Real Estate Investment Trust (TSE:IIP.UN) reached a new 52-week low during trading on Tuesday . The company traded as low as C$10.65 and last traded at C$10.66, with a volume of 130753 shares changing hands. The stock had previously closed at C$10.98.

Analysts Set New Price Targets

A number of research firms have commented on IIP.UN. National Bankshares raised their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. 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 objective on the stock in a research report on Wednesday, November 6th. 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 research report on Monday, October 28th. Finally, Royal Bank of Canada cut their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued 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$14.93.

InterRent Real Estate Investment Trust Stock Performance

The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The firm’s 50 day simple moving average is C$11.84 and its 200 day simple moving average is C$12.15. The firm has a market capitalization of C$1.57 billion, a price-to-earnings ratio of -549.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0315 dividend. This represents a $0.38 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is currently -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.