Brokerages Set Interrent Real Estate Investment Trust (TSE:IIP.UN) Target Price at C$16.64

Interrent Real Estate Investment Trust (TSE:IIP.UN) has received an average rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$16.64.

Several brokerages have recently weighed in on IIP.UN. National Bank Financial raised their target price on Interrent Real Estate Investment Trust from C$16.50 to C$17.50 and gave the company a “sector perform” rating in a research note on Monday, January 27th. CIBC lifted their price target on Interrent Real Estate Investment Trust from C$15.00 to C$16.00 in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Interrent Real Estate Investment Trust from C$15.50 to C$17.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th. Raymond James set a C$18.00 price target on Interrent Real Estate Investment Trust and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lifted their price target on Interrent Real Estate Investment Trust from C$15.00 to C$16.15 in a research note on Wednesday, November 6th.

In other Interrent Real Estate Investment Trust news, Senior Officer Michael Robert Clancy purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were bought at an average price of C$15.67 per share, with a total value of C$62,680.00. Following the completion of the acquisition, the insider now owns 59,164 shares in the company, valued at approximately C$927,099.88.

Shares of Interrent Real Estate Investment Trust stock traded up C$0.10 during trading hours on Friday, hitting C$17.36. 607,533 shares of the company’s stock traded hands, compared to its average volume of 192,961. The stock has a 50 day simple moving average of C$16.39 and a 200-day simple moving average of C$15.91. The company has a quick ratio of 0.02, a current ratio of 0.06 and a debt-to-equity ratio of 60.07. The company has a market cap of $2.10 billion and a PE ratio of 11.75. Interrent Real Estate Investment Trust has a twelve month low of C$13.28 and a twelve month high of C$17.33.

The firm also recently declared a monthly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.0258 per share. This represents a $0.31 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.02. Interrent Real Estate Investment Trust’s payout ratio is 20.97%.

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.

See Also: What is a Tariff?

Analyst Recommendations for Interrent Real Estate Investment Trust (TSE:IIP.UN)

Receive News & Ratings for Interrent Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interrent Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News