National Bank Financial Raises Interrent Real Estate Investment Trust (TSE:IIP.UN) Price Target to C$15.50

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price target lifted by National Bank Financial from C$14.50 to C$15.50 in a research note published on Thursday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

IIP.UN has been the topic of several other reports. BMO Capital Markets raised their target price on shares of Interrent Real Estate Investment Trust from C$15.00 to C$16.15 in a report on Thursday. Royal Bank of Canada raised their price target on shares of Interrent Real Estate Investment Trust from C$14.50 to C$15.50 and gave the company an average rating in a research note on Thursday. Raymond James raised their price target on shares of Interrent Real Estate Investment Trust from C$15.50 to C$16.00 in a research note on Thursday. CIBC raised their price target on shares of Interrent Real Estate Investment Trust from C$14.00 to C$15.00 in a research note on Thursday. Finally, TD Securities raised their price target on shares of Interrent Real Estate Investment Trust from C$16.00 to C$16.50 and gave the company a buy rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of C$15.43.

Shares of IIP.UN traded down C$0.31 during trading hours on Thursday, hitting C$14.70. The company had a trading volume of 255,573 shares, compared to its average volume of 192,961. The stock has a market capitalization of $1.56 billion and a price-to-earnings ratio of 7.77. The stock has a fifty day moving average price of C$14.23. Interrent Real Estate Investment Trust has a 12 month low of C$10.71 and a 12 month high of C$14.79. The company has a debt-to-equity ratio of 72.93, a quick ratio of 0.02 and a current ratio of 0.08.

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be paid a dividend of $0.0242 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, July 30th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is 15.32%.

In related news, Senior Officer Michael Robert Clancy acquired 19,000 shares of the stock in a transaction dated Wednesday, June 19th. The stock was bought at an average price of C$14.09 per share, with a total value of C$267,710.00. Following the completion of the transaction, the insider now directly owns 53,814 shares of the company’s stock, valued at C$758,239.26.

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.

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

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