Interrent Real Estate Investment Trust (TSE:IIP.UN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Interrent Real Estate Investment Trust (TSE:IIP.UN) has received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$15.05.

A number of equities research analysts recently commented on the stock. Cormark increased their target price on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. CIBC boosted their target price on Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Scotiabank decreased their price target on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating for the company in a research note on Monday, March 25th. Royal Bank of Canada raised 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 report on Friday, March 1st. Finally, Veritas Investment Research restated a “reduce” rating on shares of Interrent Real Estate Investment Trust in a report on Friday, March 1st.

Interrent Real Estate Investment Trust Trading Up 1.5 %

TSE:IIP.UN opened at C$12.11 on Tuesday. The firm has a market cap of C$1.76 billion, a P/E ratio of 18.92 and a beta of 1.08. Interrent Real Estate Investment Trust has a one year low of C$11.43 and a one year high of C$14.50. The company has a debt-to-equity ratio of 66.88, a quick ratio of 0.04 and a current ratio of 0.14. The firm has a 50-day simple moving average of C$13.12 and a 200-day simple moving average of C$12.93.

Interrent Real Estate Investment Trust Dividend Announcement

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

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.