Scotiabank Lowers InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$12.25

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target decreased by Scotiabank from C$12.50 to C$12.25 in a research report report published on Wednesday,BayStreet.CA reports. Scotiabank currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on IIP.UN. Royal Bank of Canada decreased 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 raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price on the stock in a report on Wednesday, November 6th. Raymond James decreased their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a report on Wednesday. Finally, CIBC decreased their target price on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$13.50.

InterRent Real Estate Investment Trust Price Performance

Shares of InterRent Real Estate Investment Trust stock opened at C$9.93 on Wednesday. InterRent Real Estate Investment Trust has a one year low of C$9.40 and a one year high of C$14.40. The stock’s fifty day moving average is C$9.98 and its 200 day moving average is C$11.22. The stock has a market cap of C$1.47 billion, a P/E ratio of -496.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.0331 per share. The ex-dividend date was Friday, January 31st. This represents a $0.40 dividend on an annualized basis and a yield of 4.00%. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -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.