InterRent Real Estate Investment Trust Announces Monthly Dividend of $0.03 (TSE:IIP.UN)

InterRent Real Estate Investment Trust (TSE:IIP.UN) declared a monthly dividend on Friday, June 28th, TickerTech reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.0315 per share by the real estate investment trust on Monday, July 15th. This represents a $0.38 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, June 28th.

InterRent Real Estate Investment Trust Price Performance

Shares of IIP.UN stock traded up C$0.20 during trading hours on Thursday, hitting C$12.00. The company had a trading volume of 305,733 shares, compared to its average volume of 360,477. InterRent Real Estate Investment Trust has a 12 month low of C$11.43 and a 12 month high of C$14.50. The company has a debt-to-equity ratio of 65.36, a quick ratio of 0.04 and a current ratio of 0.55. The firm’s fifty day moving average is C$12.01 and its 200 day moving average is C$12.89. The firm has a market capitalization of C$1.74 billion, a price-to-earnings ratio of 50.00 and a beta of 1.10.

Wall Street Analyst Weigh In

IIP.UN has been the topic of a number of analyst reports. Cormark upped their price target on InterRent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. Raymond James dropped their target price on shares of InterRent Real Estate Investment Trust from C$16.25 to C$15.75 and set a “strong-buy” rating for the company in a research report on Wednesday, April 24th. Scotiabank boosted their price target on shares of InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. National Bankshares dropped their price objective on shares of InterRent Real Estate Investment Trust from C$15.50 to C$14.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Finally, BMO Capital Markets boosted their target price on InterRent Real Estate Investment Trust from C$14.25 to C$15.00 in a report on Monday, March 4th. 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$15.07.

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.