How to Buy InterRent REIT Stock in Canada [2024]

Summary: Investing in real estate investment trusts (REITs) is a solid way to gain exposure to the property market without the challenges of direct real estate ownership. InterRent REIT is one of the well-regarded REITs you might consider adding to your investment portfolio, thanks to its solid track record and potential for growth. In this guide, you will learn how to buy InterRent REIT stock as a Canadian resident through an online broker such as Interactive Brokers.

About InterRent REIT

InterRent REIT (TSX: IIP.UN)  is a Canadian real estate investment trust (REIT) company primarily focusing on residential properties within the country. In addition, the company has the objective of, to quote its about us page, “increasing unitholder value through the acquisition, ownership, management, and repositioning of strategically located, income-producing, multi-residential properties.”

How to buy InterRent REIT stock: Step-by-step process 

InterRent REIT is a publicly traded company listed on the Toronto Stock Exchange (TSX) under the ticker IIP.UN. To buy shares of InterRent REIT, you will need to navigate the stock market, choose a reliable trading platform, and understand how to properly research, analyze, and trade stocks.

Step 1: Choosing a Broker

To begin investing in InterRent REIT stock, you need to set up a stock trading account. First, you need to choose a reputable brokerage to open an account with. There are a large number of brokers, each offering different features and services and catering to different types of investors, so it’s essential to compare and contrast their fees, tools, customer support, etc.

Our recommended broker is Interactive Brokers, a platform featuring:

• Commission-free stock trading;
• Global stock-trading on 90+ market centers;
• Fractional shares;
• Additional income on fully paid shares;
• Lowest financing rates for margin accounts;
• No account minimums.

Step 2: Opening a trading account

Once you have chosen a broker, you can register an account. That usually means you’ll have to provide the broker with personal information, such as your name, address, social security number, etc. In addition, you may need to answer questions related to your investment experience and financial goals or even let the broker know how you found it. 

Step 3: Funding your account

Once your account has been approved, you’ll need to fund it. However, before diving into the world of REIT investments, you’ll need to determine how much you want to allocate to InterRent REIT stock. That is, you must assess your personal risk tolerance and financial goals to establish the right amount for you.

Once you’ve figured out the sum, you can start transferring funds. Nowadays, most platforms typically offer various funding methods, such as bank and wire transfers, checks, etc. Select the most convenient option for you and transfer the initial deposit.

Step 4: Placing an order

Once your account is funded, you’re ready to start trading. However, try to familiarize yourself with the trading platform and its features first, such as stock charts, research tools, and order types. 

Once you’ve gathered sufficient info, place your order for InterRent REIT stock. There are two primary order types to consider:

• Market order: This type of order lets you buy the stock at the current market price. This is usually a faster strategy, but the price may fluctuate while your order is being executed;
• Limit order: With a limit order, you set a specific price at which you want to buy the stock. If the stock reaches that price or goes below it, your order will be executed. This ensures you don’t overpay, but there’s a risk that the stock’s price never hits your target price.

InterRent REIT stock price

Step 6: Monitoring your investment

After purchasing InterRent REIT stock, you must monitor your investment regularly. Stay informed about any news or developments related to the company, as well as the overall real estate market. In other words, set aside some time to review your investment’s performance and the status of your portfolio and make adjustments as necessary to align with your financial goals.

Should you invest in InterRent REIT

InterRent REIT is one of Canada’s leading investment firms focusing on real estate properties. By investing in it, you can gain exposure to real estate-related assets and allow yourself to benefit from the rental income and capital appreciation of the properties the company manages without actually owning or managing those properties yourself.

Disclaimer: TradingView does not recommend trading financial instruments based exclusively on the advice of the Technical Rating indicator. These recommendations cannot predict future movements and are meant as assistance for spotting potentially favorable buy/sell conditions if this is consistent with their strategy.

InterRent REIT financial history

In recent years, InterRent REIT has experienced significant growth and has reported increases in revenues. However, past performance might not indicate similar results in the future.

When evaluating InterRent REIT’s stock performance and future profitability, consider the following points:

• Dividends: As a REIT, InterRent is mandated to distribute at least 90% of its taxable income to its shareholders;
• Historical stock prices: Check historical stock price trends to get an idea of the stability and long-term growth potential of InterRent REIT;

• The company’s financial health: Understanding the financial health of InterRent REIT is another vital factor to consider when investing. Carefully analyze the company’s balance sheet, income statements, and cash flow statements. Pay attention to key financial metrics such as revenue growth, net income, debt-to-equity ratio, and Return on Equity (ROE);

• Analyst predictions: Keep an eye on analyst price targets and recommendations for InterRent REIT. They may provide a reasonable outlook of the stock’s potential upside based on financials and company performance;

• Market conditions: Before investing in InterRent REIT, it’s crucial that you evaluate the overall market conditions. You should analyze the real estate market trends within the regions InterRent REIT operates in. Then, examine interest rate changes and unemployment rates to gauge the overall health of the real estate market. Additionally, consider the overall performance of REITs in the stock market as well.

The pros and cons of investing in InterRent REIT in Canada

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy InterRent REIT stock

How to buy InterRent REIT stock?

To buy InterRent REIT stock, make an account at an online exchange platform, such as Interactive Brokers.

When did InterRent REIT go public?

InterRent REIT went public in 2007.

What is the InterRent REIT ticker symbol?

The InterRent REIT ticker symbol is IIP.UN.

Is InterRent REIT a good investment?

InterRent REIT can be a good investment for those looking to gain exposure to the Canadian real estate market without necessarily owning any property. For other investors, it can be a good way to diversify their portfolios.