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

Key Points

• InterRent Real Estate Investment Trust (TSE:IIP.UN) has received an average consensus rating of "Hold" from analysts, with one sell rating, three hold ratings, and three buy ratings.
• The average 1-year price target for the stock is C$13.24, with BMO Capital Markets recently increasing their target from C$11.50 to C$12.50.
• The company announced a monthly dividend of $0.0331 per share, equating to an annualized yield of 3.0% with a significant dividend payout ratio of -1,900.00%.

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report) have been assigned a consensus recommendation of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$13.24.

IIP.UN has been the subject of a number of analyst reports. Raymond James Financial lowered InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and raised their price objective for the company from C$13.25 to C$14.00 in a research report on Wednesday, May 28th. National Bankshares set a C$13.55 price target on InterRent Real Estate Investment Trust and gave the company a "sector perform" rating in a report on Wednesday, May 28th. TD Securities lowered shares of InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating and reduced their price objective for the company from C$14.00 to C$13.55 in a research note on Monday, July 14th. CIBC upped their target price on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada downgraded shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$14.50 to C$13.55 in a research report on Monday, June 9th.

InterRent Real Estate Investment Trust Stock Down 0.1%

IIP.UN traded down C$0.01 during midday trading on Tuesday, reaching C$13.25. The company's stock had a trading volume of 279,600 shares, compared to its average volume of 681,228. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$13.80. The stock's 50-day moving average is C$13.44 and its 200-day moving average is C$11.60. The firm has a market capitalization of C$1.96 billion, a price-to-earnings ratio of -662.50 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.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.0331 per share. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, July 31st. InterRent Real Estate Investment Trust's dividend payout ratio is currently -1,900.00%.

About InterRent Real Estate Investment Trust

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.