InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Pass Below 50 Day Moving Average - What's Next?

Key Points

• InterRent Real Estate Investment Trust shares have recently fallen below their 50-day moving average of C$13.41, trading as low as C$13.19.
• Despite mixed analyst ratings, including a range from "sell" to "buy," the average price target for the stock is currently at C$13.27.
• The company announced a monthly dividend of $0.0331, which represents a yield of 3.0%, set to be paid on August 15th.

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report)'s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$13.41 and traded as low as C$13.19. InterRent Real Estate Investment Trust shares last traded at C$13.19, with a volume of 1,308,733 shares.

Analyst Ratings Changes

A number of analysts have commented on the stock. CIBC upped 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. Royal Bank Of Canada downgraded InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and dropped their target price for the company from C$14.50 to C$13.55 in a report on Monday, June 9th. BMO Capital Markets upped their target price on InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a report on Thursday, May 22nd. Raymond James Financial downgraded 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 report on Wednesday, May 28th. Finally, National Bankshares set a C$13.55 price objective on InterRent Real Estate Investment Trust and gave the stock a "sector perform" rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$13.27.

InterRent Real Estate Investment Trust Stock Performance

The stock has a market cap of C$1.97 billion, a P/E ratio of -664.50 and a beta of 1.13. The company has a fifty day moving average price of C$13.40 and a 200 day moving average price of C$11.76. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04.

InterRent Real Estate Investment Trust Announces Dividend

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

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.