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

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) hit a new 52-week low on Tuesday . The company traded as low as C$10.26 and last traded at C$10.30, with a volume of 361882 shares trading hands. The stock had previously closed at C$10.31.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets decreased their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report 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. National Bankshares upped their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. 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 research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.83.

InterRent Real Estate Investment Trust Price Performance

The company has a market cap of C$1.52 billion, a P/E ratio of -520.50 and a beta of 1.13. The stock has a 50-day simple moving average of C$11.29 and a 200 day simple moving average of C$12.01. 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 Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a $0.0315 dividend. This represents a $0.38 annualized dividend and a yield of 3.67%. The ex-dividend date was Thursday, October 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.