InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Crosses Above 50 Day Moving Average - Time to Sell?

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) passed above its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analyst Ratings Changes

A number of research firms have weighed in on IIP.UN. Raymond James Financial cut InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from C$13.25 to C$14.00 in a research report on Wednesday, May 28th. BMO Capital Markets increased their price objective on InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. Desjardins cut InterRent Real Estate Investment Trust from a "hold" rating to a "sell" rating and set a C$13.55 price objective for the company. in a research report on Monday, August 11th. CIBC increased their price objective on InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada cut InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from C$14.50 to C$13.55 in a research report on Monday, June 9th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, InterRent Real Estate Investment Trust has an average rating of "Hold" and a consensus target price of C$13.27.

InterRent Real Estate Investment Trust Price Performance

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's fifty day simple moving average is C$13.32 and its 200-day simple moving average is C$12.20. The company 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 Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.0331 per share. The ex-dividend date of this dividend 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 currently -31.47%.

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.