Royal Bank of Canada Boosts Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$17.00

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective hoisted by Royal Bank of Canada from C$15.50 to C$17.00 in a research report sent to investors on Thursday, November 7th, BayStreet.CA reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Several other research firms have also issued reports on IIP.UN. BMO Capital Markets upped their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$16.15 in a research note on Wednesday, November 6th. National Bank Financial upped their target price on Interrent Real Estate Investment Trust from C$15.50 to C$16.50 and gave the company a sector perform rating in a research report on Wednesday, October 16th. CIBC upped their target price on Interrent Real Estate Investment Trust from C$15.00 to C$16.00 in a research report on Wednesday, November 6th. Canaccord Genuity increased their price target on Interrent Real Estate Investment Trust from C$15.00 to C$16.00 in a research report on Wednesday, September 4th. Finally, TD Securities cut Interrent Real Estate Investment Trust from a buy rating to a hold rating and upped their target price for the stock from C$16.50 to C$17.50 in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of C$16.54.

TSE:IIP.UN traded up C$0.11 on Thursday, hitting C$16.24. The company’s stock had a trading volume of 156,163 shares, compared to its average volume of 192,961. The company has a current ratio of 0.06, a quick ratio of 0.02 and a debt-to-equity ratio of 60.07. The stock has a fifty day moving average of C$15.88 and a two-hundred day moving average of C$14.90. The firm has a market capitalization of $1.97 billion and a P/E ratio of 10.99. Interrent Real Estate Investment Trust has a one year low of C$12.06 and a one year high of C$16.61.

The company also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 15th will be given a dividend of $0.0242 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.29 annualized dividend and a dividend yield of 1.79%. Interrent Real Estate Investment Trust’s dividend payout ratio is currently 19.62%.

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.

Featured Article: Stochastic Momentum Index (SMI)

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

Leave a Reply

Your email address will not be published. Required fields are marked *