InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 1-Year Low – What’s Next?

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$9.85 and last traded at C$9.90, with a volume of 195140 shares traded. The stock had previously closed at C$10.00.

Analysts Set New Price Targets

IIP.UN has been the topic of a number of recent research reports. BMO Capital Markets cut their price objective on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. National Bankshares raised their price objective on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Royal Bank of Canada dropped 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 target for the company in a report on Wednesday, November 6th. Finally, Raymond James dropped their price target on shares of InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned 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$14.56.

InterRent Real Estate Investment Trust Stock Down 1.3 %

The company’s 50 day simple moving average is C$10.37 and its 200-day simple moving average is C$11.66. 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 firm has a market cap of C$1.43 billion, a P/E ratio of -484.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a $0.0331 dividend. This represents a $0.40 annualized dividend and a yield of 4.10%. The ex-dividend date is Friday, January 31st. InterRent Real Estate Investment Trust’s dividend 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.