InterRent Real Estate Investment Trust Announces Monthly Dividend of $0.03 (TSE:IIP.UN)

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Friday, January 31st,TickerTech Dividends reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.0331 per share by the real estate investment trust on Tuesday, February 18th. This represents a $0.40 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, January 31st.

InterRent Real Estate Investment Trust Stock Performance

Shares of InterRent Real Estate Investment Trust stock traded up C$0.06 during trading on Wednesday, hitting C$9.81. 20,017 shares of the company’s stock traded hands, compared to its average volume of 375,214. InterRent Real Estate Investment Trust has a 1 year low of C$9.63 and a 1 year high of C$14.50. The business has a 50-day simple moving average of C$10.27 and a 200-day simple moving average of C$11.60. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The stock has a market capitalization of C$1.45 billion, a P/E ratio of -490.50 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IIP.UN shares. Raymond James reduced their price target on shares of InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research note on Monday, January 13th. BMO Capital Markets lowered their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. Royal Bank of Canada cut their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. TD Securities raised 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 research report on Wednesday, November 6th. Finally, National Bankshares upped their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, InterRent Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and an average target price of C$14.56.

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.