November 4, 2024

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InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Pass Above Fifty Day Moving Average of $12.02

InterRent Real Estate Investment Trust (TSE:IIP.UN) Shares Pass Above Fifty Day Moving Average of .02


InterRent Real Estate Investment Trust (TSE:IIP.UN – Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$12.02 and traded as high as C$12.51. InterRent Real Estate Investment Trust shares last traded at C$12.34, with a volume of 206,758 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. National Bankshares cut their price objective 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 report on Wednesday, April 24th. Scotiabank upped their target price on shares of InterRent Real Estate Investment Trust from C$14.25 to C$14.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Cormark upped their target price on shares of InterRent Real Estate Investment Trust from C$15.25 to C$16.00 in a research note on Friday, March 15th. TD Securities dropped their target price on shares of InterRent Real Estate Investment Trust from C$15.00 to C$14.00 in a research note on Wednesday, April 24th. Finally, 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 on the stock in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, InterRent Real Estate Investment Trust presently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.07.

Read Our Latest Research Report on IIP.UN

InterRent Real Estate Investment Trust Trading Down 0.6 %

The stock’s 50 day moving average price is C$12.02 and its 200-day moving average price is C$12.82. The company has a quick ratio of 0.04, a current ratio of 0.55 and a debt-to-equity ratio of 65.36. The stock has a market capitalization of C$1.79 billion, a PE ratio of 51.42 and a beta of 1.10.

InterRent Real Estate Investment Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.0315 per share. The ex-dividend date is Friday, June 28th. This represents a $0.38 annualized dividend and a yield of 3.06%. InterRent Real Estate Investment Trust’s payout ratio is 158.33%.

About InterRent Real Estate Investment Trust

(Get Free Report)

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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