On April 29, 2019, InterRent Real Estate Investment Trust (TSX:IIP-U) announced its 2019 Q1 results and they were impressive. The company continues to deliver double digit organic growth. The REIT has now delivered this kind of growth for six consecutive quarters. The company delivered 12% NOI growth and its revenue increased by 8% QoQ . The organic growth came from an increase in the average monthly rent. Furthermore, management continues to be disciplined on cost. Operating costs were very impressive, especially that we had record cold weather in Eastern Canada.
Disclaimer: Palos Funds are shareholders of IIP-U.
By Charles Marleau, CIM & Joany Pagé, CFA
By Hubert Marleau
By Robert Mendel
By William Mitchell