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

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

Interrent Real Estate Investment Trust Price Performance

Shares of TSE:IIP.UN opened at C$12.12 on Friday. The stock has a market cap of C$1.76 billion, a PE ratio of 18.94 and a beta of 1.08. The company’s fifty day moving average is C$13.33 and its 200 day moving average is C$12.97. Interrent Real Estate Investment Trust has a 52 week low of C$11.43 and a 52 week high of C$14.50. 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

A number of equities analysts recently commented on the stock. National Bankshares decreased their target price on shares of 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. Cormark boosted their price objective on shares of Interrent Real Estate Investment Trust from C$15.25 to C$16.00 in a research report on Friday, March 15th. Raymond James decreased their price objective on shares of 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. BMO Capital Markets boosted their price objective on shares of Interrent Real Estate Investment Trust from C$14.25 to C$15.00 in a research report on Monday, March 4th. Finally, Laurentian set a C$15.00 price objective on shares of Interrent Real Estate Investment Trust and gave the company a “buy” rating in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.