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) shares hit a new 52-week low during mid-day 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 traded. The stock had previously closed at C$10.98.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IIP.UN. BMO Capital Markets reduced their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Royal Bank of Canada cut 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. TD Securities upgraded shares of 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 note on Wednesday, November 6th. Finally, National Bankshares upped 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$14.93.

InterRent Real Estate Investment Trust Trading Down 0.5 %

The stock has a market cap of C$1.56 billion, a PE ratio of -527.50 and a beta of 1.13. The business has a 50-day moving average of C$11.74 and a 200 day moving average of C$12.13. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

InterRent Real Estate Investment Trust Announces Dividend

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