Interrent Real Estate Investment Trust (OTCMKTS:IIPZF) declared a monthly dividend on Monday, June 15th, Zacks reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.019 per share on Wednesday, July 15th. This represents a $0.23 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, June 29th.
IIPZF opened at $10.50 on Friday. The business’s 50-day moving average is $10.49 and its two-hundred day moving average is $11.62. Interrent Real Estate Investment Trust has a 1 year low of $9.90 and a 1 year high of $13.02.
A number of brokerages have recently weighed in on IIPZF. CIBC dropped their price target on Interrent Real Estate Investment Trust from $16.50 to $15.50 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. ValuEngine lowered Interrent Real Estate Investment Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, May 12th. Finally, Scotiabank dropped their price target on Interrent Real Estate Investment Trust from $19.35 to $17.25 and set an “outperform” rating on the stock in a research note on Thursday, May 7th.
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 primary objectives are: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.
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