InterRent Real Estate Investment Trust (TSE:IIP.UN) Sets New 1-Year Low – What’s Next?

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price reached a new 52-week low on Monday . The stock traded as low as C$9.91 and last traded at C$9.95, with a volume of 64530 shares changing hands. The stock had previously closed at C$10.09.

Wall Street Analysts Forecast Growth

IIP.UN has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. BMO Capital Markets cut their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price on the stock in a report on Wednesday, November 6th. Finally, National Bankshares raised their price target on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$14.92.

InterRent Real Estate Investment Trust Stock Performance

The stock has a 50-day simple moving average of C$10.90 and a 200-day simple moving average of C$11.88. The stock has a market cap of C$1.48 billion, a PE ratio of -501.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04.

InterRent Real Estate Investment Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be paid a $0.0331 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Tuesday, December 31st. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -1,900.00%.

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.