InterRent Real Estate Investment Trust (TSE:IIP.UN) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• InterRent Real Estate Investment Trust has received an average analyst rating of "Hold", with two analysts recommending a sell, three a hold, and three a buy.
• The firm announced a monthly dividend of $0.0331 per share, reflecting a 3.0% annualized yield, with a dividend payout ratio of -31.47%.
• TD Securities downgraded the stock from "hold" to "sell" and reduced its price target from C$14.00 to C$13.55.

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) have been assigned an average recommendation of "Hold" from the eight research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$13.27.

IIP.UN has been the topic of a number of recent analyst reports. National Bankshares set a C$13.55 price target on InterRent Real Estate Investment Trust and gave the stock a "sector perform" rating in a research report on Wednesday, May 28th. TD Securities downgraded InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating and reduced their price target for the stock from C$14.00 to C$13.55 in a research report on Monday, July 14th. Raymond James Financial downgraded shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from C$13.25 to C$14.00 in a research note on Wednesday, May 28th. BMO Capital Markets lifted their price objective on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research note on Thursday, May 22nd. Finally, CIBC increased their price objective on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research note on Thursday, May 22nd.

InterRent Real Estate Investment Trust Stock Up 0.1%

TSE IIP.UN traded up C$0.01 during midday trading on Friday, hitting C$13.41. 47,114 shares of the company traded hands, compared to its average volume of 702,977. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. The company has a market cap of C$1.87 billion, a PE ratio of -10.80 and a beta of 0.75. The company's 50-day simple moving average is C$13.33 and its 200-day simple moving average is C$12.05. InterRent Real Estate Investment Trust has a 52 week low of C$9.40 and a 52 week high of C$13.80.

InterRent Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be paid a $0.0331 dividend. The ex-dividend date is Friday, August 29th. This represents a c) dividend on an annualized basis and a dividend yield of 3.0%. InterRent Real Estate Investment Trust's dividend payout ratio is presently -31.47%.

InterRent Real Estate Investment Trust Company Profile

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.