InterRent Real Estate Investment Trust (TSE:IIP.UN) Raises Dividend to $0.03 Per Share

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Investors of record on Wednesday, January 15th will be given a dividend of 0.0331 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.40 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03.

InterRent Real Estate Investment Trust Price Performance

IIP.UN traded down C$0.04 during trading on Friday, reaching C$10.09. 535,937 shares of the stock were exchanged, compared to its average volume of 390,386. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The company has a market capitalization of C$1.49 billion, a price-to-earnings ratio of -504.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a 1 year low of C$9.92 and a 1 year high of C$14.50. The business’s 50 day moving average price is C$10.90 and its two-hundred day moving average price is C$11.88.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IIP.UN shares. BMO Capital Markets decreased their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. TD Securities raised shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a report on Wednesday, November 6th. 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. Finally, National Bankshares upped their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$14.92.

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.