Interrent Real Estate Investment Trust (TSE:IIP.UN) Reaches New 52-Week High at $15.29

Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) reached a new 52-week high during trading on Thursday . The company traded as high as C$15.29 and last traded at C$15.27, with a volume of 430074 shares. The stock had previously closed at C$15.02.

IIP.UN has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of Interrent Real Estate Investment Trust from C$16.50 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, March 16th. National Bankshares boosted their price objective on shares of Interrent Real Estate Investment Trust from C$15.50 to C$16.00 and gave the stock an “outperform” rating in a report on Tuesday, March 16th. Five analysts have rated the stock with a buy rating, Interrent Real Estate Investment Trust has a consensus rating of “Buy” and an average price target of C$16.30.

The stock’s fifty day moving average is C$14.20 and its 200 day moving average is C$13.55. The company has a current ratio of 0.77, a quick ratio of 0.62 and a debt-to-equity ratio of 50.58. The company has a market capitalization of C$2.11 billion and a P/E ratio of 13.07.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Thursday, April 15th will be given a dividend of $0.0271 per share. This represents a $0.33 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Tuesday, March 30th. Interrent Real Estate Investment Trust’s payout ratio is currently 27.20%.

Interrent Real Estate Investment Trust Company Profile (TSE:IIP.UN)

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.

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