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

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price hit a new 52-week low on Wednesday . The company traded as low as C$10.40 and last traded at C$10.40, with a volume of 31445 shares changing hands. The stock had previously closed at C$10.42.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Royal Bank of Canada reduced their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. TD Securities upgraded 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. BMO Capital Markets reduced their price objective on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. Finally, National Bankshares boosted their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$14.83.

InterRent Real Estate Investment Trust Stock Performance

The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The company has a 50 day moving average of C$11.38 and a 200 day moving average of C$12.03. The firm has a market cap of C$1.52 billion, a price-to-earnings ratio of -521.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were paid a $0.0315 dividend. This represents a $0.38 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) 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.