InterRent Real Estate Investment Trust (TSE:IIP.UN) Given New C$12.25 Price Target at Scotiabank

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price target trimmed by Scotiabank from C$12.50 to C$12.25 in a report published on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target on the stock in a research note on Wednesday, November 6th. CIBC cut their price target on InterRent Real Estate Investment Trust from C$15.00 to C$13.50 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. Finally, Raymond James cut their target price on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

InterRent Real Estate Investment Trust stock opened at C$9.93 on Wednesday. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The company has a market capitalization of C$1.47 billion, a P/E ratio of -496.50 and a beta of 1.13. The stock’s 50 day moving average is C$9.98 and its 200 day moving average is C$11.22. InterRent Real Estate Investment Trust has a twelve month low of C$9.40 and a twelve month high of C$14.40.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.0331 per share. The ex-dividend date was Friday, January 31st. This represents a $0.40 annualized dividend and a yield of 4.00%. InterRent Real Estate Investment Trust’s dividend payout ratio is -1,900.00%.

About InterRent Real Estate Investment Trust

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.