TD Securities Downgrades InterRent Real Estate Investment Trust (TSE:IIP.UN) to Sell

TD Securities cut shares of InterRent Real Estate Investment Trust (TSE:IIP.UN - Free Report) from a hold rating to a sell rating in a research report sent to investors on Monday,BayStreet.CA reports. The firm currently has C$13.55 price target on the real estate investment trust's stock, down from their prior price target of C$14.00.

Other analysts also recently issued research reports about the stock. National Bankshares set a C$13.55 price objective on shares of InterRent Real Estate Investment Trust and gave the company a "sector perform" rating in a research report on Wednesday, May 28th. BMO Capital Markets increased their price objective on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. CIBC raised their price target 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 downgraded shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from C$14.50 to C$13.55 in a research report on Monday, June 9th. Finally, Raymond James Financial downgraded shares of InterRent Real Estate Investment Trust from an "outperform" rating to a "market perform" rating and raised their price target for the stock from C$13.25 to C$14.00 in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of C$13.24.

InterRent Real Estate Investment Trust Price Performance

Shares of IIP.UN stock remained flat at C$13.34 during trading hours on Monday. 817,129 shares of the stock traded hands, compared to its average volume of 635,883. The stock has a market cap of C$1.97 billion, a price-to-earnings ratio of -667.00 and a beta of 1.13. InterRent Real Estate Investment Trust has a 1-year low of C$9.40 and a 1-year high of C$13.80. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43. The business's 50-day moving average price is C$13.01 and its two-hundred day moving average price is C$11.26.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be paid a $0.0331 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, July 31st. InterRent Real Estate Investment Trust's payout ratio is -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.