InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 52-Week Low – What’s Next?

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$9.40 and last traded at C$9.74, with a volume of 567060 shares changing hands. The stock had previously closed at C$9.77.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IIP.UN. National Bankshares upped their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. Raymond James reduced their price objective on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a report on Monday, January 13th. BMO Capital Markets reduced their price objective 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 reduced their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$14.56.

InterRent Real Estate Investment Trust Trading Up 2.8 %

The stock has a market cap of C$1.50 billion, a PE ratio of -508.50 and a beta of 1.13. The firm has a 50-day simple moving average of C$10.17 and a 200-day simple moving average of C$11.51. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be given a $0.0331 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.91%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -1,900.00%.

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.