InterRent Real Estate Investment Trust (TSE:IIP.UN) Sets New 52-Week Low After Analyst Downgrade

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price hit a new 52-week low during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from C$16.50 to C$15.00. The stock traded as low as C$10.84 and last traded at C$10.94, with a volume of 143154 shares trading hands. The stock had previously closed at C$11.24.

Several other equities analysts have also issued reports on the stock. BMO Capital Markets decreased their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. National Bankshares boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$14.93.

InterRent Real Estate Investment Trust Price Performance

The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The firm has a fifty day simple moving average of C$12.29 and a 200-day simple moving average of C$12.26. The firm has a market cap of C$1.62 billion, a price-to-earnings ratio of -547.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.0315 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -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.