InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• InterRent Real Estate Investment Trust shares recently crossed above their 50-day moving average, trading at C$13.40 with a significant volume of 168,094 shares.
• Analysts' recommendations vary, with ratings including three "Buy", three "Hold", and two "Sell", leading to an average target price of C$13.27.
• The company declared a monthly dividend of $0.0331 per share, representing a 3.0% yield and a payout ratio of -31.47%.

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$13.32 and traded as high as C$13.40. InterRent Real Estate Investment Trust shares last traded at C$13.40, with a volume of 168,094 shares trading hands.

Analysts Set New Price Targets

IIP.UN has been the topic of a number of analyst reports. Desjardins cut shares of InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$13.55 price objective on the stock. in a research report on Monday, August 11th. CIBC boosted their price objective on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research report on Thursday, May 22nd. Royal Bank Of Canada cut shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from C$14.50 to C$13.55 in a research report on Monday, June 9th. Raymond James Financial cut shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from C$13.25 to C$14.00 in a research report on Wednesday, May 28th. Finally, TD Securities cut shares of InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating and cut their price objective for the company from C$14.00 to C$13.55 in a research report on Monday, July 14th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$13.27.

InterRent Real Estate Investment Trust Trading Down 0.1%

The stock's fifty day moving average price is C$13.32 and its 200 day moving average price is C$12.26. 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 stock has a market capitalization of C$1.86 billion, a P/E ratio of -10.76 and a beta of 0.70.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be issued 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.