InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 12-Month Low – Time to Sell?

InterRent Real Estate Investment Trust (TSE:IIP.UN) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$10.71 and last traded at C$10.83, with a volume of 35570 shares changing hands. The stock had previously closed at C$10.76.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IIP.UN. TD Securities raised 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 research report on Wednesday, November 6th. National Bankshares raised 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. 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. Finally, Royal Bank of Canada decreased their target price on 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, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$14.93.

InterRent Real Estate Investment Trust Stock Up 0.6 %

The firm has a 50-day moving average price of C$12.21 and a 200 day moving average price of C$12.24. 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 cap of C$1.60 billion, a price-to-earnings ratio of -541.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be issued a $0.0315 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -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.