InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 12-Month Low – Here’s What Happened

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$9.90 and last traded at C$9.91, with a volume of 19294 shares changing hands. The stock had previously closed at C$10.01.

Analysts Set New Price Targets

IIP.UN has been the subject of several recent research reports. BMO Capital Markets reduced their price target on InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. Royal Bank of Canada cut their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a report on Wednesday, November 6th. National Bankshares raised their target price on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. Raymond James dropped their target price on shares of InterRent Real Estate Investment Trust from C$14.00 to C$13.00 in a report on Monday, January 13th. Finally, TD Securities raised InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price on the stock in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, InterRent Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and an average price target of C$14.61.

InterRent Real Estate Investment Trust Stock Performance

The stock has a 50 day moving average price of C$10.42 and a two-hundred day moving average price of C$11.71. The company has a market cap of C$1.47 billion, a P/E ratio of -497.00 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59.

InterRent Real Estate Investment Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.0331 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, January 31st. InterRent Real Estate Investment Trust’s dividend payout ratio is currently -1,900.00%.

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.