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

Interrent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Shareholders 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 of this dividend is Monday, April 29th.

Interrent Real Estate Investment Trust Trading Down 0.1 %

IIP.UN stock traded down C$0.01 during midday trading on Friday, hitting C$12.12. 117,215 shares of the company’s stock were exchanged, compared to its average volume of 346,902. The stock’s fifty day moving average price is C$13.33 and its 200-day moving average price is C$12.97. 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 company has a market cap of C$1.76 billion, a PE ratio of 18.94 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James cut their price target on Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating on the stock in a report on Wednesday. National Bankshares lowered their target price on Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets boosted their price target on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. TD Securities lowered their price target on Interrent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Wednesday. Finally, CIBC boosted their price target on Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Interrent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus target price 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.