Interrent Real Estate Investment Trust (TSE:IIP.UN) PT Raised to C$15.00

Interrent Real Estate Investment Trust (TSE:IIP.UN) had its price objective increased by CIBC from C$14.00 to C$15.00 in a research note published on Thursday morning, BayStreet.CA reports.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets lifted their price objective on Interrent Real Estate Investment Trust from C$15.00 to C$16.15 in a research note on Thursday. Royal Bank of Canada lifted their price objective on 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. National Bank Financial lifted their price objective on Interrent Real Estate Investment Trust from C$14.00 to C$14.50 and gave the company a sector perform rating in a research note on Wednesday, May 1st. TD Securities lifted their price objective on 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. Finally, Raymond James lifted their price objective on Interrent Real Estate Investment Trust from C$15.50 to C$16.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Interrent Real Estate Investment Trust has a consensus rating of Buy and an average price target of C$15.43.

Shares of IIP.UN opened at C$14.70 on Thursday. The firm has a 50-day moving average of C$14.24. The company has a quick ratio of 0.02, a current ratio of 0.07 and a debt-to-equity ratio of 74.54. The stock has a market cap of $1.56 billion and a PE ratio of 8.87. Interrent Real Estate Investment Trust has a 1 year low of C$10.71 and a 1 year high of C$15.18.

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.0242 per share. This represents a $0.29 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, July 30th. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is presently 17.49%.

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

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.

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

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