Brokerages Set Granite Real Estate Investment Trust (TSE:GRT.UN) Target Price at C$88.33

Shares of Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) have been given a consensus rating of “Buy” by the nine research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$88.33.

A number of brokerages recently commented on GRT.UN. Laurentian lifted their price objective on Granite Real Estate Investment Trust from C$80.00 to C$90.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada lifted their target price on Granite Real Estate Investment Trust from C$86.00 to C$89.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. National Bankshares lifted their target price on Granite Real Estate Investment Trust from C$83.00 to C$87.00 and gave the stock an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets lifted their target price on Granite Real Estate Investment Trust from C$81.00 to C$84.00 in a report on Monday, March 4th. Finally, Desjardins lifted their target price on Granite Real Estate Investment Trust from C$84.00 to C$87.00 and gave the stock a “buy” rating in a report on Friday, March 1st.

Granite Real Estate Investment Trust Stock Down 4.3 %

Shares of Granite Real Estate Investment Trust stock opened at C$69.17 on Friday. The company has a quick ratio of 1.61, a current ratio of 0.40 and a debt-to-equity ratio of 58.81. Granite Real Estate Investment Trust has a 12 month low of C$62.72 and a 12 month high of C$86.39. The business has a fifty day simple moving average of C$74.83 and a 200 day simple moving average of C$73.01. The stock has a market cap of C$4.38 billion, a PE ratio of 32.02 and a beta of 1.14.

Granite Real Estate Investment Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were issued a $0.275 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 4.77%. Granite Real Estate Investment Trust’s dividend payout ratio (DPR) is 152.78%.

Granite Real Estate Investment Trust Company Profile

Granite is a Canadian based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 investment properties representing approximately 34 million square feet of leasable area.