Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target Lowered to C$14.00 at National Bankshares

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its target price trimmed by National Bankshares from C$15.50 to C$14.00 in a research note released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts have also commented on IIP.UN. TD Securities reduced their price target on shares of Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday. BMO Capital Markets upped their price target on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. Laurentian set a C$15.00 price target on shares of Interrent Real Estate Investment Trust and gave the company a buy rating in a research report on Monday, January 22nd. CIBC upped their price target on shares of Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a neutral rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada increased their target price on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the stock an outperform rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of C$15.05.

Interrent Real Estate Investment Trust Price Performance

TSE IIP.UN opened at C$12.12 on Wednesday. Interrent Real Estate Investment Trust has a 52 week low of C$11.43 and a 52 week high of C$14.50. The firm has a market capitalization of C$1.76 billion, a P/E ratio of 18.94 and a beta of 1.08. The company has a quick ratio of 0.04, a current ratio of 0.14 and a debt-to-equity ratio of 66.88. The company has a 50-day moving average price of C$13.33 and a 200-day moving average price of C$12.97.

Interrent Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.0315 per share. This represents a $0.38 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Monday, April 29th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 59.38%.

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.