InterRent Real Estate Investment Trust (TSE:IIP.UN) Price Target Cut to C$15.00 by Analysts at Royal Bank of Canada

InterRent Real Estate Investment Trust (TSE:IIP.UN) had its price objective trimmed by Royal Bank of Canada from C$16.50 to C$15.00 in a report published on Wednesday, BayStreet.CA reports.

IIP.UN has been the subject of a number of other reports. National Bankshares upped their target price on InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “buy” rating and set a C$14.00 target price for the company in a research report on Wednesday. Finally, BMO Capital Markets lowered their price objective 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, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$14.93.

InterRent Real Estate Investment Trust Stock Performance

Shares of TSE:IIP.UN opened at C$10.95 on Wednesday. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. InterRent Real Estate Investment Trust has a 12-month low of C$10.84 and a 12-month high of C$14.50. The company’s 50 day moving average price is C$12.34 and its two-hundred day moving average price is C$12.26. The firm has a market cap of C$1.62 billion, a PE ratio of -547.50 and a beta of 1.13.

InterRent Real Estate Investment Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 15th will be given a dividend of $0.0315 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.38 annualized dividend and a yield of 3.45%. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -1,900.00%.

About InterRent Real Estate Investment Trust

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.