Interrent Real Estate Investment Trust (TSE:IIP.UN) Declares Monthly Dividend of $0.03

Interrent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Monday, April 29th, TickerTech reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.0315 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.38 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, April 29th.

Interrent Real Estate Investment Trust Stock Down 0.1 %

Shares of TSE IIP.UN opened at C$12.12 on Friday. The stock has a fifty day moving average price of C$13.33 and a 200 day moving average price of C$12.97. The company has a market cap of C$1.76 billion, a P/E ratio of 18.94 and a beta of 1.08. Interrent Real Estate Investment Trust has a 12-month low of C$11.43 and a 12-month high of C$14.50. The company has a current ratio of 0.14, a quick ratio of 0.04 and a debt-to-equity ratio of 66.88.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada raised their target price on Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company an “outperform” rating in a report on Friday, March 1st. CIBC upped their target price on shares of Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Laurentian set a C$15.00 price target on shares of Interrent Real Estate Investment Trust and gave the stock a “buy” rating in a research note on Monday, January 22nd. BMO Capital Markets raised their target price on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research note on Monday, March 4th. Finally, Veritas Investment Research reiterated a “reduce” rating on shares of Interrent Real Estate Investment Trust in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$15.05.

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.