Interrent Real Estate Investment Trust (TSE:IIP.UN) Given Average Rating of “Moderate Buy” by Brokerages

Interrent Real Estate Investment Trust (TSE:IIP.UN) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$15.05.

Several equities research analysts recently commented on the company. Veritas Investment Research reissued a “reduce” rating on shares of Interrent Real Estate Investment Trust in a research note on Friday, March 1st. Royal Bank of Canada boosted 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 research report on Friday, March 1st. Cormark raised their price target on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a report on Friday, March 15th. BMO Capital Markets upped their price objective on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a report on Monday, March 4th. Finally, CIBC increased their target price on shares of 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.

Interrent Real Estate Investment Trust Stock Performance

Shares of TSE IIP.UN opened at C$12.11 on Tuesday. Interrent Real Estate Investment Trust has a one year low of C$11.43 and a one year high of C$14.50. The business’s 50-day moving average price is C$13.12 and its two-hundred day moving average price is C$12.93. The company has a debt-to-equity ratio of 66.88, a current ratio of 0.14 and a quick ratio of 0.04. The company has a market capitalization of C$1.76 billion, a P/E ratio of 18.92 and a beta of 1.08.

Interrent Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 15th will be given 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 is Monday, April 29th. Interrent Real Estate Investment Trust’s dividend payout ratio is 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.