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

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Friday, June 28th, TickerTech reports. Stockholders of record on Monday, July 15th will be paid a dividend of 0.0315 per share by the real estate investment trust on Monday, July 15th. This represents a $0.38 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, June 28th.

InterRent Real Estate Investment Trust Stock Up 1.7 %

Shares of TSE:IIP.UN traded up C$0.20 during trading on Thursday, hitting C$12.00. The stock had a trading volume of 305,733 shares, compared to its average volume of 360,477. InterRent Real Estate Investment Trust has a 12 month low of C$11.43 and a 12 month high of C$14.50. The company has a market capitalization of C$1.74 billion, a PE ratio of 50.00 and a beta of 1.10. The firm’s fifty day moving average is C$12.01 and its 200 day moving average is C$12.88. The company has a quick ratio of 0.04, a current ratio of 0.55 and a debt-to-equity ratio of 65.36.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IIP.UN. Cormark upped their price target on InterRent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. National Bankshares cut their price target on InterRent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Royal Bank of Canada increased their target price on InterRent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an “outperform” rating in a research note on Friday, March 1st. CIBC increased their target price on InterRent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Finally, BMO Capital Markets increased their target price on InterRent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.07.

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.