FY2024 EPS Estimates for InterRent REIT Lowered by Analyst

InterRent REIT (TSE:IIP) – Investment analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of InterRent REIT in a research note issued on Tuesday, November 5th. National Bank Financial analyst M. Kornack now forecasts that the company will earn $0.61 per share for the year, down from their previous estimate of $0.62. National Bank Financial also issued estimates for InterRent REIT’s FY2025 earnings at $0.66 EPS.

Separately, Raymond James downgraded InterRent REIT from a “strong-buy” rating to a “moderate buy” rating in a research report on Tuesday.

InterRent REIT Price Performance

InterRent REIT has a 1-year low of C$7.31 and a 1-year high of C$10.19.

InterRent REIT (TSE:IIP) last posted its earnings results on Tuesday, August 6th. The company reported C($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.17). The business had revenue of C$61.44 million during the quarter.

InterRent REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.032 per share. This represents a $0.38 annualized dividend and a yield of ∞. The ex-dividend date is Thursday, October 31st.

About InterRent REIT

InterRent Real Estate Investment Trust is a real estate investment trust focused on acquisition, holding, leasing or managing of multi-unit residential properties and real estate ventures. Its portfolio consists of approximately 70 Properties containing over 8,050 suites. Approximately 2,980 suites are located in mid-sized population markets, with the remaining 5,075 suites located in the Greater Toronto Area (GTA), Montreal and the National Capital Region (NCR).