Brokerages Set Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target at C$19.56

Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have been assigned an average rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$19.56.

Several analysts have recently issued reports on the stock. CIBC upped their target price on shares of Interrent Real Estate Investment Trust from C$18.50 to C$19.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 9th. Canaccord Genuity increased their target price on shares of Interrent Real Estate Investment Trust from C$15.75 to C$18.50 in a research report on Tuesday, August 10th. Raymond James set a C$20.25 price target on shares of Interrent Real Estate Investment Trust and gave the stock an “outperform” rating in a report on Tuesday, November 9th. TD Securities increased their price objective on Interrent Real Estate Investment Trust from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Tuesday, November 9th. Finally, National Bankshares raised their target price on Interrent Real Estate Investment Trust from C$20.00 to C$20.25 in a research report on Wednesday, October 20th.

In other news, Director Paul Bouzanis sold 70,000 shares of the company’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of C$17.50, for a total value of C$1,225,000.00. Following the completion of the transaction, the director now directly owns 305,829 shares in the company, valued at approximately C$5,352,007.50.

IIP.UN stock traded up C$0.08 during midday trading on Thursday, reaching C$17.25. 300,732 shares of the company’s stock traded hands, compared to its average volume of 291,654. The company has a market cap of C$2.40 billion and a price-to-earnings ratio of 7.31. The firm’s fifty day moving average price is C$17.49 and its 200-day moving average price is C$17.07. The company has a quick ratio of 0.17, a current ratio of 0.37 and a debt-to-equity ratio of 59.08. Interrent Real Estate Investment Trust has a 52 week low of C$12.96 and a 52 week high of C$18.64.

The business also recently announced a monthly dividend, which was paid on Monday, November 15th. Shareholders of record on Monday, November 15th were given a dividend of $0.0271 per share. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $0.33 annualized dividend and a yield of 1.89%. Interrent Real Estate Investment Trust’s payout ratio is presently 13.73%.

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.

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Analyst Recommendations for Interrent Real Estate Investment Trust (TSE:IIP.UN)

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