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

InterRent Real Estate Investment Trust (TSE:IIP.UN) shares reached a new 52-week low on Wednesday . The stock traded as low as C$9.63 and last traded at C$9.70, with a volume of 140644 shares changing hands. The stock had previously closed at C$9.75.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IIP.UN. National Bankshares upped their price objective on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. BMO Capital Markets cut their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. Royal Bank of Canada decreased their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Raymond James cut their target price on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a report on Monday, January 13th. 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 for the company in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$14.56.

InterRent Real Estate Investment Trust Stock Down 0.5 %

The stock has a fifty day moving average price of C$10.25 and a two-hundred day moving average price of C$11.58. The company has a market cap of C$1.44 billion, a P/E ratio of -488.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Friday, January 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is -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.