Brokerages Set Interrent Real Estate Investment Trust (IIP.UN) Target Price at $13.31

Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have been assigned a consensus rating of “Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$13.31.

Several equities research analysts have recently commented on the stock. Raymond James reiterated an “average” rating and set a C$14.00 price target on shares of Interrent Real Estate Investment Trust in a research report on Tuesday. National Bank Financial lifted their price target on shares of Interrent Real Estate Investment Trust from C$12.50 to C$13.00 in a research report on Wednesday, November 28th. TD Securities lifted their price target on shares of Interrent Real Estate Investment Trust from C$12.50 to C$14.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. BMO Capital Markets lifted their price target on shares of Interrent Real Estate Investment Trust from C$12.50 to C$13.50 in a research report on Thursday, November 1st. Finally, Royal Bank of Canada cut shares of Interrent Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$13.00 to C$13.50 in a research report on Thursday, January 3rd.

Shares of TSE IIP.UN traded up C$0.11 during trading on Friday, reaching C$13.20. The company had a trading volume of 578,508 shares, compared to its average volume of 192,961. Interrent Real Estate Investment Trust has a 52 week low of C$7.31 and a 52 week high of C$10.19.

The business also recently declared a monthly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 17th were issued a $0.0242 dividend. This represents a $0.29 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 29th. This is a boost from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.02.

About Interrent Real Estate Investment Trust

InterRent Real Estate Investment Trust is a real estate investment trust focused on acquisition, holding, leasing or managing of multi-unit residential properties and real estate ventures. Its portfolio consists of approximately 70 Properties containing over 8,050 suites. Approximately 2,980 suites are located in mid-sized population markets, with the remaining 5,075 suites located in the Greater Toronto Area (GTA), Montreal and the National Capital Region (NCR).

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