Interrent Real Estate Investment Trust (IIP.UN) to Issue Monthly Dividend of $0.02

Interrent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Tuesday, October 30th, TickerTech reports. Stockholders of record on Thursday, November 15th will be given a dividend of 0.0225 per share by the real estate investment trust on Thursday, November 15th. This represents a $0.27 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, October 30th.

Shares of IIP.UN stock traded down C$0.04 during mid-day trading on Monday, hitting C$12.27. The company’s stock had a trading volume of 169,469 shares, compared to its average volume of 192,961. Interrent Real Estate Investment Trust has a 52 week low of C$7.31 and a 52 week high of C$10.19.

A number of analysts recently commented on IIP.UN shares. Canaccord Genuity boosted their target price on Interrent Real Estate Investment Trust from C$12.00 to C$13.50 in a research report on Monday. BMO Capital Markets boosted their target price on Interrent Real Estate Investment Trust from C$11.75 to C$12.50 and gave the company an “outperform” rating in a research report on Monday, August 20th. Royal Bank of Canada boosted their target price on Interrent Real Estate Investment Trust from C$11.50 to C$12.00 and gave the company an “outperform” rating in a research report on Wednesday, August 15th. CIBC boosted their target price on Interrent Real Estate Investment Trust from C$11.00 to C$11.50 in a research report on Wednesday, August 15th. Finally, National Bank Financial reaffirmed a “sector perform” rating and issued a C$10.80 target price (down from C$11.00) on shares of Interrent Real Estate Investment Trust in a research report on Friday, August 10th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of C$11.98.



About Interrent Real Estate Investment Trust

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).

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