Brokerages Set Interrent Real Estate Investment Trust (IIP.UN) Target Price at $14.69

Interrent Real Estate Investment Trust (TSE:IIP.UN) has been given a consensus recommendation of “Buy” by the nine research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is C$14.69.

Several research firms have recently commented on IIP.UN. TD Securities reduced their target price on shares of Interrent Real Estate Investment Trust from C$16.50 to C$16.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Raymond James restated a “strong-buy” rating and issued a C$15.50 target price on shares of Interrent Real Estate Investment Trust in a research note on Wednesday, May 1st. National Bank Financial raised their target price on shares of Interrent Real Estate Investment Trust from C$14.00 to C$14.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 1st. Desjardins raised their target price on shares of Interrent Real Estate Investment Trust from C$14.50 to C$15.00 in a research note on Wednesday, February 27th. Finally, Canaccord Genuity cut shares of Interrent Real Estate Investment Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, April 2nd.

TSE:IIP.UN traded down C$0.04 during trading hours on Tuesday, reaching C$14.38. 50,559 shares of the company’s stock were exchanged, compared to its average volume of 192,961. The stock has a market cap of $1.53 billion and a P/E ratio of 7.80. The company has a debt-to-equity ratio of 71.20, a current ratio of 0.12 and a quick ratio of 0.06. Interrent Real Estate Investment Trust has a 1-year low of C$7.31 and a 1-year high of C$10.19.

The firm also recently announced a monthly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.0242 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.29 annualized dividend and a yield of 2.02%. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 15.74%.

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.

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

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