Raymond James Cuts InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$13.00

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective reduced by Raymond James from C$14.00 to C$13.00 in a report published on Monday morning,BayStreet.CA reports.

A number of other brokerages have also recently weighed in on IIP.UN. Royal Bank of Canada dropped their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. BMO Capital Markets lowered 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. TD Securities upgraded 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 research note on Wednesday, November 6th. Finally, National Bankshares upped their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$14.61.

InterRent Real Estate Investment Trust Price Performance

IIP.UN opened at C$10.01 on Monday. 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’s 50-day moving average price is C$10.47 and its 200 day moving average price is C$11.73. InterRent Real Estate Investment Trust has a fifty-two week low of C$9.91 and a fifty-two week high of C$14.50. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of -500.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Increases Dividend

The business also recently announced a monthly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were given a $0.0331 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03. 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.