InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 52-Week Low – What’s Next?

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) hit a new 52-week low during trading on Tuesday . The stock traded as low as C$10.71 and last traded at C$10.83, with a volume of 35570 shares. The stock had previously closed at C$10.76.

Analyst Ratings Changes

A number of analysts have recently issued reports on IIP.UN shares. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective on the stock in a report on Wednesday, November 6th. BMO Capital Markets decreased their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a report on Monday, October 28th. National Bankshares lifted their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a report on Wednesday, October 9th. Finally, Royal Bank of Canada cut 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$14.93.

InterRent Real Estate Investment Trust Trading Up 0.6 %

The stock has a market cap of C$1.60 billion, a P/E ratio of -538.00 and a beta of 1.13. 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 company has a 50-day moving average price of C$12.21 and a two-hundred day moving average price of C$12.24.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be paid a $0.0315 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Thursday, October 31st. InterRent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently -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.