InterRent Real Estate Investment Trust (TSE:IIP.UN) Announces Dividend Increase – $0.03 Per Share

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Investors of record on Wednesday, January 15th will be paid a dividend of 0.0331 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03.

InterRent Real Estate Investment Trust Price Performance

IIP.UN stock opened at C$10.09 on Friday. The company has a market cap of C$1.49 billion, a PE ratio of -504.50 and a beta of 1.13. 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 stock has a 50-day moving average price of C$10.90 and a two-hundred day moving average price of C$11.88. InterRent Real Estate Investment Trust has a 12-month low of C$9.92 and a 12-month high of C$14.50.

Analyst Ratings Changes

A number of analysts have recently issued reports on IIP.UN shares. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a report on Wednesday, November 6th. BMO Capital Markets decreased their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. National Bankshares raised their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada reduced 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued 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 an average price target of C$14.92.

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.