Interrent Real Estate Investment Trust (TSE:IIP.UN) Declares $0.03 Monthly Dividend

Interrent Real Estate Investment Trust (TSE:IIP.UN) announced a monthly dividend on Monday, April 29th, TickerTech reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.0315 per share by the real estate investment trust on Wednesday, May 15th. This represents a $0.38 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, April 29th.

Interrent Real Estate Investment Trust Trading Down 0.1 %

TSE IIP.UN opened at C$12.12 on Friday. The company has a market cap of C$1.76 billion, a price-to-earnings ratio of 18.94 and a beta of 1.08. Interrent Real Estate Investment Trust has a 52 week low of C$11.43 and a 52 week high of C$14.50. The business has a 50 day moving average price of C$13.33 and a 200-day moving average price of C$12.97. The company has a quick ratio of 0.04, a current ratio of 0.14 and a debt-to-equity ratio of 66.88.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a report on Monday, March 4th. Scotiabank decreased their price objective on Interrent Real Estate Investment Trust from C$14.75 to C$14.25 and set an “outperform” rating for the company in a report on Monday, March 25th. National Bankshares cut their target price on Interrent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research report on Wednesday. CIBC lifted their target price on Interrent Real Estate Investment Trust from C$13.50 to C$15.00 and gave the company a “neutral” rating in a research report on Friday, March 1st. Finally, Raymond James cut their target price on Interrent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$15.05.

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.