Bullboard - Stock Discussion Forum InterRent Real Estate Investment Trust T.IIP.UN

Alternate Symbol(s): IIPZF

InterRent Real Estate Investment Trust is a real estate investment trust. It is engaged in acquisition, ownership, management and repositioning of strategically located, income-producing, multi-residential properties. Its primary objectives are to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties;... see more

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InterRent Real Estate Investment Trust > Results and Comparison

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Post by retiredcf on Nov 27, 2022 7:36am

Results and Comparison

Can you comment on IIP.UN"s most recent quarterly results? How does it compare to CAR.UN from a valuation perspective?

IIP reported mostly an in-line quarter with FFO per unit up 3.7% YOY (meeting expectations) and same property net operating income growth of 12.4%, supported by a curb on expense growth. Average market rent grew by 6.9% and occupancy increased to 95.6%. IIP has completed a refinancing and increased its dividend for the 11th consecutive year by 5.3%. It was a decent quarter. IIP trades fairly cheaply compared to CAR and this can be based on their sizes, dividend yield, and CAR's relatively better balance sheet. Faster growth is expected for IIP looking ahead. (5iResearch)

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