InterRent Real Estate Investment Trust (TSE:IIP.UN) Hits New 12-Month Low - Here's Why

InterRent Real Estate Investment Trust (TSE:IIP.UN - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as C$9.91 and last traded at C$9.95, with a volume of 64530 shares traded. The stock had previously closed at C$10.09.

Analysts Set New Price Targets

A number of analysts recently issued reports on IIP.UN shares. TD Securities upgraded shares of InterRent Real Estate Investment Trust from a "hold" rating to a "buy" rating and set a C$14.00 price target for the company in a research note on Wednesday, November 6th. BMO Capital Markets dropped their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research report on Monday, October 28th. National Bankshares increased their price target on shares of InterRent Real Estate Investment Trust from C$14.75 to C$15.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reduced their price objective on InterRent Real Estate Investment Trust from C$16.50 to C$15.00 in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$14.92.

InterRent Real Estate Investment Trust Stock Down 0.3 %

The company has a market capitalization of C$1.49 billion, a price-to-earnings ratio of -503.00 and a beta of 1.13. The company has a quick ratio of 0.04, a current ratio of 0.43 and a debt-to-equity ratio of 63.59. The business has a 50-day moving average price of C$10.85 and a 200-day moving average price of C$11.87.

InterRent Real Estate Investment Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be given a $0.0331 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from InterRent Real Estate Investment Trust's previous monthly dividend of $0.03. InterRent Real Estate Investment Trust's dividend payout ratio is -1,900.00%.

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.