InterRent Real Estate Investment Trust (TSE:IIP.UN) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Shares of InterRent Real Estate Investment Trust (TSE:IIP.UN) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$13.41 and traded as low as C$13.19. InterRent Real Estate Investment Trust shares last traded at C$13.19, with a volume of 1,308,733 shares traded.

Analyst Ratings Changes

A number of brokerages recently weighed in on IIP.UN. National Bankshares set a C$13.55 price objective on shares of InterRent Real Estate Investment Trust and gave the company a “sector perform” rating in a report on Wednesday, May 28th. CIBC lifted their price target on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research note on Thursday, May 22nd. BMO Capital Markets boosted their price objective on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a research report on Thursday, May 22nd. Raymond James Financial cut shares of InterRent Real Estate Investment Trust from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$13.25 to C$14.00 in a research note on Wednesday, May 28th. Finally, TD Securities lowered InterRent Real Estate Investment Trust from a “hold” rating to a “sell” rating and reduced their price target for the stock from C$14.00 to C$13.55 in a research note on Monday, July 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of C$13.27.

InterRent Real Estate Investment Trust Stock Performance

The stock has a 50-day moving average of C$13.41 and a 200-day moving average of C$11.69. The firm has a market cap of C$1.95 billion, a price-to-earnings ratio of -659.50 and a beta of 1.13. The company has a debt-to-equity ratio of 63.59, a quick ratio of 0.04 and a current ratio of 0.43.

InterRent Real Estate Investment Trust Dividend Announcement

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