InterRent Real Estate Investment Trust (TSE:IIP.UN) Given New C$13.50 Price Target at CIBC

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its target price cut by CIBC from C$15.00 to C$13.50 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the real estate investment trust’s stock.

IIP.UN has been the subject of several other reports. Royal Bank of Canada reduced their price target on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research report on Wednesday, November 6th. TD Securities upgraded InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 price target for the company in a research report on Wednesday, November 6th. Finally, Raymond James reduced their price target on InterRent Real Estate Investment Trust from C$13.00 to C$12.50 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, InterRent Real Estate Investment Trust presently has an average rating of “Moderate Buy” and a consensus price target of C$13.50.

InterRent Real Estate Investment Trust Stock Performance

Shares of IIP.UN opened at C$9.93 on Wednesday. The firm has a market cap of C$1.47 billion, a PE ratio of -496.50 and a beta of 1.13. The stock’s fifty day moving average price is C$9.98 and its two-hundred day moving average price is C$11.22. The company has a debt-to-equity ratio of 63.59, a current ratio of 0.43 and a quick ratio of 0.04. InterRent Real Estate Investment Trust has a 1 year low of C$9.40 and a 1 year high of C$14.40.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th were given a dividend of $0.0331 per share. This represents a $0.40 annualized dividend and a yield of 4.00%. The ex-dividend date was Friday, January 31st. InterRent Real Estate Investment Trust’s payout ratio is -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.