Royal Bank of Canada Issues Pessimistic Forecast for InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Price

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price cut by Royal Bank of Canada from C$15.00 to C$14.50 in a report issued on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also commented on IIP.UN. Scotiabank dropped their price objective on shares of InterRent Real Estate Investment Trust from C$12.50 to C$12.25 and set an “outperform” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on shares of InterRent Real Estate Investment Trust from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Wednesday. 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 on the stock in a research note on Wednesday, November 6th. CIBC dropped their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Raymond James dropped their price target on shares of InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$13.50.

InterRent Real Estate Investment Trust Price Performance

Shares of IIP.UN opened at C$9.93 on Wednesday. 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$1.47 billion, a PE ratio of -496.50 and a beta of 1.13. InterRent Real Estate Investment Trust has a 1-year low of C$9.40 and a 1-year high of C$14.40. The firm has a fifty day moving average price of C$9.98 and a 200 day moving average price of C$11.22.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.0331 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.40 annualized dividend and a yield of 4.00%. InterRent Real Estate Investment Trust’s payout ratio is currently -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.