InterRent Real Estate Investment Trust (TSE:IIP.UN) Sets New 52-Week Low – Time to Sell?

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

Wall Street Analysts Forecast Growth

IIP.UN has been the subject of several recent analyst reports. TD Securities raised 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 report on Wednesday, November 6th. Raymond James decreased their price objective on InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research report on Monday, January 13th. National Bankshares upped their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. 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. Finally, Royal Bank of Canada dropped their price objective on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, InterRent Real Estate Investment Trust currently has an average rating of “Moderate Buy” and a consensus target price of C$14.61.

InterRent Real Estate Investment Trust Price Performance

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

InterRent Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date of this dividend is Friday, January 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is -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.