InterRent Real Estate Investment Trust (TSE:IIP.UN) Sets New 52-Week Low – Here’s What Happened

InterRent Real Estate Investment Trust (TSE:IIP.UN) hit a new 52-week low during trading on Tuesday . The stock traded as low as C$10.65 and last traded at C$10.66, with a volume of 130753 shares trading hands. The stock had previously closed at C$10.98.

Analyst Upgrades and Downgrades

Several analysts have commented on IIP.UN shares. TD Securities upgraded shares of 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 research note on Wednesday, November 6th. BMO Capital Markets decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Royal Bank of Canada decreased their target price on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. Finally, National Bankshares boosted their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$14.93.

InterRent Real Estate Investment Trust Stock Performance

The company has a market cap of C$1.56 billion, a PE ratio of -527.50 and a beta of 1.13. The firm’s fifty day moving average is C$11.74 and its 200 day moving average is C$12.13. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were issued a $0.0315 dividend. This represents a $0.38 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, October 31st. InterRent Real Estate Investment Trust’s 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.