InterRent Real Estate Investment Trust (TSE:IIP.UN) Declares Monthly Dividend of $0.03

InterRent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Tuesday, December 31st,TickerTech Dividends reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 0.0331 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.40 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from InterRent Real Estate Investment Trust’s previous monthly dividend of $0.03.

InterRent Real Estate Investment Trust Stock Performance

IIP.UN stock traded down C$0.04 during trading on Friday, reaching C$10.09. 535,937 shares of the stock were exchanged, compared to its average volume of 390,386. The stock has a 50 day simple moving average of C$10.90 and a 200-day simple moving average of C$11.88. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. InterRent Real Estate Investment Trust has a twelve month low of C$9.92 and a twelve month high of C$14.50. The company has a market capitalization of C$1.49 billion, a P/E ratio of -504.50 and a beta of 1.13.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IIP.UN. Royal Bank of Canada lowered their target price on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. National Bankshares boosted their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research note on Wednesday, October 9th. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price objective for the company in a report on Wednesday, November 6th. Finally, BMO Capital Markets cut their price target on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$14.92.

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.