Scotiabank Cuts Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$14.25

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price target trimmed by Scotiabank from C$14.75 to C$14.25 in a report released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group cut shares of Interrent Real Estate Investment Trust from a buy rating to a hold rating and upped their price objective for the company from C$13.50 to C$14.00 in a research report on Wednesday, December 20th. Raymond James upped their target price on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.25 and gave the company a strong-buy rating in a research note on Friday, March 1st. Veritas Investment Research restated a reduce rating on shares of Interrent Real Estate Investment Trust in a research note on Friday, March 1st. National Bankshares upped their target price on shares of Interrent Real Estate Investment Trust from C$15.25 to C$15.50 and gave the company an outperform rating in a research note on Friday, March 1st. Finally, Cormark upped their target price on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of C$15.32.

Interrent Real Estate Investment Trust Stock Performance

TSE:IIP.UN opened at C$13.56 on Monday. The company has a debt-to-equity ratio of 66.88, a current ratio of 0.14 and a quick ratio of 0.04. The firm has a 50-day moving average of C$13.76 and a two-hundred day moving average of C$13.01. The stock has a market cap of C$1.97 billion, a P/E ratio of 21.19 and a beta of 1.08. Interrent Real Estate Investment Trust has a 1-year low of C$11.43 and a 1-year high of C$14.50.

Interrent Real Estate Investment Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Thursday, February 15th. Stockholders of record on Thursday, February 15th were issued a $0.0315 dividend. This represents a $0.38 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Tuesday, January 30th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 59.38%.

Interrent Real Estate Investment Trust Company Profile

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.