Michael Robert Clancy Purchases 2,000 Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) Stock

Interrent Real Estate Investment Trust (TSE:IIP.UN) Senior Officer Michael Robert Clancy purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were purchased at an average price of C$13.75 per share, for a total transaction of C$27,500.00. Following the completion of the acquisition, the insider now directly owns 55,814 shares in the company, valued at approximately C$767,442.50.

Michael Robert Clancy also recently made the following trade(s):

  • On Wednesday, June 19th, Michael Robert Clancy purchased 19,000 shares of Interrent Real Estate Investment Trust stock. The shares were purchased at an average price of C$14.09 per share, for a total transaction of C$267,710.00.

Shares of TSE IIP.UN traded down C$0.11 during midday trading on Friday, reaching C$14.00. The company had a trading volume of 414,705 shares, compared to its average volume of 192,961. The company’s 50-day moving average is C$14.12. The company has a market cap of $1.49 billion and a PE ratio of 7.40. Interrent Real Estate Investment Trust has a 1 year low of C$10.66 and a 1 year high of C$14.79. The company has a debt-to-equity ratio of 72.93, a quick ratio of 0.02 and a current ratio of 0.08.

The firm also recently disclosed a monthly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 17th were paid a $0.0242 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.07%. Interrent Real Estate Investment Trust’s payout ratio is currently 15.32%.

A number of brokerages have commented on IIP.UN. TD Securities dropped their target price on shares of Resolute Forest Products from $9.50 to $9.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Raymond James reaffirmed a “hold” rating and issued a $19.50 price target on shares of in a research report on Friday. National Bank Financial cut shares of Calfrac Well Services from an “outperform market weight” rating to a “sector perform overweight” rating in a research report on Wednesday, May 1st. Finally, Canaccord Genuity cut shares of Summit Industrial Income REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$14.56.

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.

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