InterRent Real Estate Investment Trust (TSE:IIP.UN) Stock Passes Below Fifty Day Moving Average – Should You Sell?

InterRent Real Estate Investment Trust (TSE:IIP.UN)’s share price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$13.37 and traded as low as C$13.37. InterRent Real Estate Investment Trust shares last traded at C$13.39, with a volume of 258,675 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IIP.UN. Desjardins lowered InterRent Real Estate Investment Trust from a “hold” rating to a “sell” rating and set a C$13.55 target price for the company. in a research report on Monday, August 11th. TD Securities lowered InterRent Real Estate Investment Trust from a “hold” rating to a “sell” rating and decreased their target price for the company from C$14.00 to C$13.55 in a research report on Monday, July 14th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, InterRent Real Estate Investment Trust currently has an average rating of “Hold” and a consensus price target of C$13.27.

InterRent Real Estate Investment Trust Price Performance

The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The business has a fifty day simple moving average of C$13.37 and a 200 day simple moving average of C$12.87. The stock has a market capitalization of C$1.87 billion, a P/E ratio of -10.79 and a beta of 0.63.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.0331 per share. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, October 31st. InterRent Real Estate Investment Trust’s payout ratio is currently -31.47%.

About InterRent Real Estate Investment Trust

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.