Interrent Real Estate Investment Trust (TSE:IIP.UN) Declares Monthly Dividend of $0.03

Interrent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.0315 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.38 annualized dividend and a yield of 3.12%. The ex-dividend date is Monday, April 29th.

Interrent Real Estate Investment Trust Stock Down 0.1 %

IIP.UN stock opened at C$12.12 on Friday. The stock has a market cap of C$1.76 billion, a P/E ratio of 18.94 and a beta of 1.08. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88. Interrent Real Estate Investment Trust has a twelve month low of C$11.43 and a twelve month high of C$14.50. The company’s 50 day moving average is C$13.33 and its two-hundred day moving average is C$12.97.

Analysts Set New Price Targets

IIP.UN has been the subject of a number of research reports. Raymond James reduced their price target on shares of Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating for the company in a research report on Wednesday. National Bankshares reduced their target price on Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating for the company in a report on Wednesday. Scotiabank dropped their price target on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating on the stock in a research note on Monday, March 25th. Royal Bank of Canada lifted their price target on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, TD Securities decreased their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Wednesday. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$15.05.

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.