InterRent Real Estate Investment Trust (TSE:IIP.UN) Increases Dividend to $0.03 Per Share

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.0331 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.40 annualized dividend and a yield of 3.94%. The ex-dividend date is Tuesday, December 31st. This is an increase from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03.

InterRent Real Estate Investment Trust Price Performance

TSE IIP.UN opened at C$10.09 on Friday. InterRent Real Estate Investment Trust has a 52 week low of C$9.92 and a 52 week high of C$14.50. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The stock has a market cap of C$1.49 billion, a price-to-earnings ratio of -504.50 and a beta of 1.13. The company has a 50-day moving average price of C$10.90 and a two-hundred day moving average price of C$11.88.

Analyst Upgrades and Downgrades

IIP.UN has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. National Bankshares upped their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research report on Wednesday, November 6th. Finally, BMO Capital Markets reduced their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, InterRent Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of C$14.92.

InterRent Real Estate Investment Trust Company Profile

InterRent?REIT is a growth-oriented 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. InterRent’s strategy is to expand its portfolio primarily within?markets that have exhibited stable market vacancies,?sufficient suites available to attain the critical mass necessary to implement?an efficient portfolio management structure, and?offer opportunities for accretive acquisitions.