InterRent Real Estate Investment Trust (TSE:IIP.UN) Cut to Sell at Desjardins

Desjardins lowered shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) from a hold rating to a sell rating in a report released on Monday,BayStreet.CA reports. They currently have C$13.55 price objective on the real estate investment trust’s stock.

Several other analysts have also issued reports on the stock. National Bankshares set a C$13.55 price target on shares of InterRent Real Estate Investment Trust and gave the stock a “sector perform” rating in a research report on Wednesday, May 28th. TD Securities lowered shares of InterRent Real Estate Investment Trust from a “hold” rating to a “sell” rating and dropped their price target for the stock from C$14.00 to C$13.55 in a research report on Monday, July 14th. Royal Bank Of Canada lowered shares of InterRent Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$14.50 to C$13.55 in a research report on Monday, June 9th. BMO Capital Markets upped their price target on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. Finally, Raymond James Financial lowered shares of InterRent Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$13.25 to C$14.00 in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$13.27.

InterRent Real Estate Investment Trust Stock Performance

Shares of IIP.UN stock opened at C$13.20 on Monday. The company’s fifty day simple moving average is C$13.41 and its 200-day simple moving average is C$11.70. 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 firm has a market cap of C$1.95 billion, a PE ratio of -660.00 and a beta of 1.13. InterRent Real Estate Investment Trust has a 12 month low of C$9.40 and a 12 month high of C$13.80.

InterRent Real Estate Investment Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be given a $0.0331 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a c) annualized dividend and a dividend yield of 3.0%. InterRent Real Estate Investment Trust’s dividend payout ratio is presently -1,900.00%.

InterRent Real Estate Investment Trust Company Profile

InterRent Real Estate Investment Trust is an open-ended 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. The company operations are carried out through the region of Canada.