InterRent Real Estate Investment Trust (TSE:IIP.UN) Reaches New 12-Month Low – What’s Next?

InterRent Real Estate Investment Trust (TSE:IIP.UN) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$9.40 and last traded at C$9.74, with a volume of 567060 shares traded. The stock had previously closed at C$9.77.

Analyst Upgrades and Downgrades

IIP.UN has been the subject of a number of analyst reports. Royal Bank of Canada dropped their target price on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. Raymond James cut 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 cut 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, 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 objective for the company in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, InterRent Real Estate Investment Trust currently has a consensus rating of “Moderate Buy” and a consensus price target of C$14.56.

InterRent Real Estate Investment Trust Price Performance

The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The company has a market capitalization of C$1.44 billion, a P/E ratio of -487.00 and a beta of 1.13. The firm has a fifty day moving average of C$10.21 and a 200 day moving average of C$11.53.

InterRent Real Estate Investment Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be paid a $0.0331 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.08%. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently -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.