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Interrent Real Estate Investment Trust (IIP.UN) – Research Analysts’ Weekly Ratings Changes

Beth McCandry

Several analysts have recently updated their ratings and price targets for Interrent Real Estate Investment Trust (TSE: IIP.UN):

  • 5/12/2022 – Interrent Real Estate Investment Trust had its price target lowered by analysts at Royal Bank of Canada from C$22.00 to C$20.00. They now have an “outperform” rating on the stock.
  • 5/12/2022 – Interrent Real Estate Investment Trust was given a new C$20.25 price target on by analysts at Raymond James. They now have an “outperform” rating on the stock.
  • 5/12/2022 – Interrent Real Estate Investment Trust had its price target lowered by analysts at CIBC from C$18.50 to C$17.00. They now have a “neutral” rating on the stock.
  • 5/12/2022 – Interrent Real Estate Investment Trust had its price target lowered by analysts at TD Securities from C$20.00 to C$18.00. They now have a “buy” rating on the stock.
  • 5/12/2022 – Interrent Real Estate Investment Trust had its price target lowered by analysts at Scotiabank from C$19.50 to C$17.50.
  • 4/28/2022 – Interrent Real Estate Investment Trust was given a new C$20.25 price target on by analysts at Raymond James. They now have an “outperform” rating on the stock.
  • 4/27/2022 – Interrent Real Estate Investment Trust had its price target lowered by analysts at National Bankshares, Inc. from C$19.00 to C$17.00.

Shares of IIP.UN stock traded up C$0.01 during trading hours on Wednesday, hitting C$13.39. 342,043 shares of the company were exchanged, compared to its average volume of 433,145. The firm has a market cap of C$1.88 billion and a PE ratio of 5.04. Interrent Real Estate Investment Trust has a 1 year low of C$12.29 and a 1 year high of C$18.64. The company has a quick ratio of 0.04, a current ratio of 0.07 and a debt-to-equity ratio of 64.99. The firm has a fifty day moving average of C$14.94 and a 200 day moving average of C$16.01.

The firm also recently declared a monthly dividend, which was paid on Monday, May 16th. Investors of record on Monday, May 16th were issued a $0.0285 dividend. This is a positive change from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.03. The ex-dividend date was Thursday, April 28th. This represents a $0.34 annualized dividend and a yield of 2.55%. Interrent Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 12.51%.

In related news, Director Ronald A. Leslie sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of C$16.24, for a total value of C$64,960.00. Following the transaction, the director now owns 51,326 shares in the company, valued at C$833,534.24. Insiders sold 25,000 shares of company stock worth $410,537 in the last 90 days.

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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