Interrent Real Estate Investment Trust (IIP.UN) Given Average Rating of “Buy” by Brokerages

Shares of Interrent Real Estate Investment Trust (TSE:IIP.UN) have received an average recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is C$13.31.

A number of research firms have recently commented on IIP.UN. Royal Bank of Canada cut shares of Interrent Real Estate Investment Trust from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$13.00 to C$13.50 in a report on Thursday, January 3rd. TD Securities increased their target price on shares of Interrent Real Estate Investment Trust from C$12.50 to C$14.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. National Bank Financial raised their price objective on shares of Interrent Real Estate Investment Trust from C$12.50 to C$13.00 in a report on Wednesday, November 28th. CIBC raised their price objective on shares of Interrent Real Estate Investment Trust from C$11.50 to C$13.00 in a report on Wednesday, October 31st. Finally, Desjardins raised their price objective on shares of Interrent Real Estate Investment Trust from C$12.50 to C$13.50 in a report on Wednesday, October 31st.

Shares of IIP.UN stock traded up C$0.11 on Friday, reaching C$13.20. The company had a trading volume of 578,508 shares, compared to its average volume of 192,961. Interrent Real Estate Investment Trust has a one year low of C$7.31 and a one year high of C$10.19.

The firm also recently disclosed a monthly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 17th were issued a $0.0242 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, November 29th. This is a positive change from Interrent Real Estate Investment Trust’s previous monthly dividend of $0.02.

Interrent Real Estate Investment Trust Company Profile

InterRent Real Estate Investment Trust is a real estate investment trust focused on acquisition, holding, leasing or managing of multi-unit residential properties and real estate ventures. Its portfolio consists of approximately 70 Properties containing over 8,050 suites. Approximately 2,980 suites are located in mid-sized population markets, with the remaining 5,075 suites located in the Greater Toronto Area (GTA), Montreal and the National Capital Region (NCR).

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

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