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

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as C$9.63 and last traded at C$9.70, with a volume of 140644 shares traded. The stock had previously closed at C$9.75.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IIP.UN. Royal Bank of Canada reduced 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. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target for the company in a research report on Wednesday, November 6th. Raymond James lowered 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 boosted their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Finally, BMO Capital Markets decreased their target price on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$14.56.

InterRent Real Estate Investment Trust Stock Performance

The company has a 50 day simple moving average of C$10.27 and a 200-day simple moving average of C$11.60. 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 stock has a market cap of C$1.43 billion, a P/E ratio of -483.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be given a $0.0331 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a yield of 4.11%. InterRent Real Estate Investment Trust’s payout ratio is -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.