InterRent Real Estate Investment Trust (TSE:IIP.UN) Reaches New 12-Month Low – Here’s What Happened

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) reached a new 52-week low on Wednesday . The stock traded as low as C$9.85 and last traded at C$9.90, with a volume of 195140 shares trading hands. The stock had previously closed at C$10.00.

Analyst Ratings Changes

Several research analysts have recently commented on IIP.UN shares. Royal Bank of Canada decreased their price target on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research note on Wednesday, November 6th. Raymond James dropped their price target on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research 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 research report on Monday, October 28th. Finally, National Bankshares increased their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$14.61.

InterRent Real Estate Investment Trust Stock Down 1.0 %

The stock has a market cap of C$1.46 billion, a P/E ratio of -495.00 and a beta of 1.13. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The stock’s 50-day moving average is C$10.40 and its 200-day moving average is C$11.69.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, January 31st. 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.