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

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

Other analysts also recently issued research reports about the stock. TD Securities downgraded shares of InterRent Real Estate Investment Trust from a “hold” rating to a “sell” rating and reduced their price target for the company from C$14.00 to C$13.55 in a research report on Monday, July 14th. CIBC lifted their price target on shares of InterRent Real Estate Investment Trust from C$13.50 to C$14.00 in a research report on Thursday, May 22nd. BMO Capital Markets lifted their price objective on shares of InterRent Real Estate Investment Trust from C$11.50 to C$12.50 in a report on Thursday, May 22nd. National Bankshares set a C$13.55 price objective on shares of InterRent Real Estate Investment Trust and gave the stock a “sector perform” rating in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada downgraded shares of InterRent Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from C$14.50 to C$13.55 in a report on Monday, June 9th. Two equities research 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 data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$13.27.

InterRent Real Estate Investment Trust Stock Performance

TSE IIP.UN opened at C$13.20 on Monday. The company has a fifty day simple moving average of C$13.41 and a 200 day simple moving average of C$11.70. InterRent Real Estate Investment Trust has a 12-month low of C$9.40 and a 12-month high of C$13.80. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 63.59. The company has a market cap of C$1.95 billion, a P/E ratio of -660.00 and a beta of 1.13.

InterRent Real Estate Investment Trust Announces Dividend

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